We are in a period with the index going back and forth above and below its key moving average. That is why I prefer to trust a new trend only after it reaches the fifth day. Thursday was the first day of a new QQQ short term up-trend. All of this is happening within a longer term down-trend. I am still mainly in cash with a few small long positions.
Dr. Wish
what is the definition of the short term uptrend and the days count on that up trend?
Thank you
Short term up-trend is based on days above a key moving average I follow. Thursday was first day of new QQQ short term up-trend (U-1). However, the key moving average is declining and the trend may reverse again soon. The QQQ keeps whipsawing around its declining moving average–not a good sign for a strong up-trend.
Thank you Dr. Wish
The Moving Average is the QQQ 30 week moving average from Weinstains?
No. If I revealed all, you would not read my blog. 🙂
🙂 Fair enough Dr. Wish!