Blog post: $QQQ had an above average volume down week and a failed GLB, but daily RWB up-trend still in place–very defensive, cash +$SQQQ

GMI4/6
GMI-24/8
T210874%

Note that the QQQ closed the week right on its 4 week average (pink dotted line) and on the precipice. There is no reason to be brave here with the futures predicting a swoon at the open. Failure to hold the GLB was a serious sign of technical weakness and could be a double top. Went to cash in my trading account and hold some SQQQ.

But we are still in a daily RWB up-trend.

Leave a Reply

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