8th day of $QQQ short term down-trend; brick wall?

GMI2/6
GMI-23/8
T210846%

We shall now learn whether this market can hold up after the funds finish their end of quarter window dressing on Thursday. The GMI remains on Sell and IBD still sees market in correction. The QQQ has rebounded to its key declining weekly moving averages. It will be interesting to see if the QQQ now hits a brick wall. Check out this weekly chart.

Screen Shot 2016-06-29 at 9.41.32 PM

 

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