2nd day of QQQ short term up-trend; many stocks extended short term

GMI4/6
GMI-25/8
T210853%

A lot of stocks (63% of Nasdaq 100 stocks) have their stochastics in overbought territory.   While I want to wade into this market, I think it best to wait a few days to see if the market retraces a little. The QQQ daily chart below shows the 10.4.4 stochastic at 87% and that this index is nearly touching the upper Bollinger band, at 91%.   Both of these statistics   are at levels where the index has topped out short term. Click on chart to enlarge. The SPY and DIA are showing similar extreme readings on these statistics.


2 thoughts on “2nd day of QQQ short term up-trend; many stocks extended short term”

  1. Dr. Wish, do agree that the UPTREND began last week. And take a look at JAZZ which I bought last week at 38.50. Do you have a RBW chart for JAZZ to show us?

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