Stock Market Technical Indicators & Analysis
We had many US stocks at 52 week highs and at ATHs on Thursday. But QQQ and SPY are weakening.The daily Guppy chart shows the lateral movement in QQQ, compared with the nice prior up-trend. In early July, when 2nd quarter earnings come out we may see a rise, or we may not. Just in case, I nibbled at SQQQ. Time will tell.
Gray line shows close. A close below 4 wk is first sign of weakness. Let’s see if 10 week average holds. We may be in the post earnings release weakness period which might end in July with the 2nd quarter earnings period.
I must fly by instrument and the instruments say the trends are up.
