After 64 days, the QQQ short term up-trend could end on Tuesday with a down or flat day. (IBD now declares uptrend under pressure.) It was a great, long ride! The QQQ is on several levels of support that I monitor, so that index could bounce up by Tuesday’s close. If it does, the key for me is whether that bounce will hold through Wednesday. A failed bounce could lead to a large decline. I cut back on my holdings in my trading accounts on Monday. Remember, a market always falls faster than it went up, and this market rose pretty fast.
Looks like the uptrend continues!
It occurred on lower volume than when it declined. Let’s see if it holds on Wednesday.
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