5th day of $QQQ short term up-trend; Beware “Sell in May”

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Market appears to me to be getting frothy. While major indexes are moving higher, they conceal the fact that only only 40% of US stocks (70% of Nasdaq 100 stocks) rose on Thursday, most troops are not following the leaders. With end of month and earnings season coming, I expect weakness near term.  QQQ may be extended having broken above its channel line (thanks Vas).

1 thought on “5th day of $QQQ short term up-trend; Beware “Sell in May””

  1. I can tell you from personal experience that expecting a market to correct b/c it’s breached an upper trend line is a sure way to stay out of the market while it’s going up.

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