Blog Post: Day 29 of $QQQ short term up-trend; 83 US new highs and 132 lows; QQQ is right on support–Friday’s close should provide an idea where Mr. Market wants to go, see chart

QQQ is right on its 30 day average(red solid line) and there have been two black dots, indicating an oversold bounce. The 10.4 daily stochastic is also below 20, the level where this index often bounces. Note also the higher volume on Thursday’s advance. Friday’s close should give me an indication whether the QQQ short term up-trend remains intact. Then it will be time for me to buy TQQQ or SQQQ. The key is to remain agnostic and to ride the market in the direction it wants to go.