7th Day of QQQ short term down-trend; Watching AAPL for clues

GMI3/6
GMI-23/8
T210837%

Now that AAPL beat earnings, we need to see if it can hold its strong open on Wednesday.   If AAPL can’t hold I maybe should sell in May and go away! Too many leaders have already broken down. All of these have faltered:   CMG, BIDU, GWW,   NFLX, PNRA, VMW, RL, PCLN, GOOG, BLK.   Only 13 of the Dow 30 stock have now closed above their important 30 day averages. I remain in cash and short GLD.

1 thought on “7th Day of QQQ short term down-trend; Watching AAPL for clues”

  1. can you explain why you are short gold still? Seems that we have strong support at these levels and would seem if we are indeed coming up to a correction that metals will be ideal spot to hide.

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