3rd day of $QQQ short term up-trend; QQQ still in channel; $TMV-trading a rise in interest rates

GMI5/6
GMI-26/8
T210863%

The QQQ failed to break out of its trading channel on Friday.

QQQ02062015Interest rates rose on Friday, reflected in falling bond prices. One way to play a future rise in rates and a decline in treasury bonds is through the triple leveled 20 yr U.S. bond bearish ETF, TMV. TMV rose more than 5% on Friday and +16% for the week.

TMV02062015

The GMI is at 5 (of 6) and remains on a Buy signal since January 23rd. I remain cautious and ready to act one way or the other. The QQQ closed just below its 10 week average.

GMI02082015

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.