Another weak day on Wednesday could turn the short term trend of the QQQ down. The QQQ failed to hold its 10 week average. I sold my TQQQ and am on the sidelines. I do not like the fact that the 30 day average (red line) is trending down. Click on chart to enlarge.
tech stocks taking a hit today — internet stocks getting whacked good. the bounce of the Biotech’s still hanging on, though Semi’s starting to look a little weak too. would be down worse if Yellen hadn’t spoken to try to pump the market. this market looking like it wants to head down in the coming weeks. could be the ‘sell in May’ syndrome taking effect this year after a year of big (though artificial, thanks to Fed manipulation) gains.