6th day of QQQ short term up-trend, but T2108 is now at an extreme 78%

GMI6/6
GMI-25/8
T210878%

I am not jumping into this market now when it appears very overbought and at extremes.   At the top last April, T2108 reached 79%. It is now 78%.   There were 442 new 52 week highs in my universe of 4,000 stocks on Thursday. At the last top there were 625 new highs.   But 79% of Nasdaq 100 stocks have a daily stochastic above 80%, the highest level since last September, at the beginning of a new rally.   So is this a top or a new leg up?   Check out SKYY, a new ETF focusing on cloud technology.

1 thought on “6th day of QQQ short term up-trend, but T2108 is now at an extreme 78%”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: