31st day of QQQ short term down-trend; correction continues; FB strong

GMI1/6
GMI-23/8
T210834%

The market is not out of the woods. IBD still calls it in a correction.   And the GMI is only 1 (of 6).   The market is no longer oversold.   I am watching AAPL for clues of the market’s trend. A close of AAPL above 591 would suggest significant strength. But its 10 week average is about to cross below its 30 week average, a sign of weakness.

Meanwhile, FB continues to show strength, now closing at $24.32.   The daily Guppy GMMA chart shows that the short term averages (red lines) are now rising above the long term averages (blue lines), a major sign of strength. I own some FB.

 

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