Stock Market Technical Indicators & Analysis
QQQ might bounce this week but still looks technically weak. Last Friday it did have a blue dot signifying an oversold bounce. Note the 30 day average, solid red line, is curving down, a major sign of weakness.
NFLX has been in a daily BWR decline since May. Always monitor the daily modified Guppy chart.There are 12 exponential averages and one average=1 to show daily closes as a dotted line. The dots show daily low prices.
The GMI = 3 and the GMI2=1
All shorter term averages (red lines) are compressed, showing little change over the past 15 days.
QQQ was down on higher volume Monday than Friday and the 30 day average is curving down, a major sign of weakness. QQQ also closed below its 50 day average (green dotted line). Will QQQ find support at its lower Bollinger band (@700) again? We must react and not predict. Wait for Mr. Market to reveal his intention.
