$QQQ short term up-trend could end today at 70 days; end of 1st quarter rally coming?

GMI4/6
GMI-24/8
T210836%

This modest decline has not reached over-sold levels yet. I went to cash and gold in my trading accounts yesterday. Plenty of time to get back on board when my stocks look strong again with RLCs=6. I would not be surprised if we  get a sharp snap back rally into the end of the quarter mutual fund window dressing at the end of this week. Media pundits are becoming hysterical about this decline. Don’t people know that the market goes in both directions and this has been a rare uninterrupted advance? The longest QQQ short term up-trend (by my definition) since 2006 was 88 days and this one just turned 70. The put/call ratio is 1.04 and T2108 is 36. Daily 10.4 stochastics for QQQ=57. Bounces usually come after more extreme numbers than these. Meanwhile the RLC (red line count) for these symbols:  QQQ=0, SPY=0, UUP=0 buy TLT=6, GLD=6. So stocks and dollar down but bonds and gold up. This daily chart of QQQ shows the high volume distribution day yesterday.

 

2 thoughts on “$QQQ short term up-trend could end today at 70 days; end of 1st quarter rally coming?”

  1. Ref RLC count,how do you get the numbers 0 to 6 as using the “TC2000 Condition solution” only gives Binary answer ? And how do you post the RLC Count on top of the Chart? And how do you post only the DOTS for the LOWs. Thanks

Leave a Reply

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

%d bloggers like this: