IBD used to say all up-trends began after a high volume follow-through day, until now. This was a very short and unusual down-turn. However, the QQQ short term down-trend remains in place by my count. Monday was the 7th day of this down-trend. Tech stocks have lagged the large cap stocks. It remains to be seen whether the techs will continue this rise.
Meanwhile, this weekly chart shows that GLD (gold ETF) is now below its 30 week average (red line) indicating the stage 2 up-trend is likely over.
