A close of QQQ today above 185.14 would put QQQ back above all 12 daily moving averages and may suggest the start of a new RWB up-trend. Dotted line is daily close. Daily RWB= red white and blue up-trend with all shorter daily averages (red lines) above all longer daily averages (blue lines). Stay tuned.
Similar level for SPY is a close above 287.72.
When RWB pattern resumes it will be time for me to wade into the market. RWB up-trend occurs when all shorter averages (red lines) are rising well above longer term averages (blue lines). Will a BWR down-trend emerge?
Some stocks remain in nice RWB up-trends, like $MTCH, which had a recent GLB and resisted the market decline (great relative strength!). Dotted line is daily close.
Eleven US stocks (out of more than 4,000) that meet my stringent technical criteria and that are worthy of research. All are currently at least double their closes of a year ago, an important criterion of technical strength used by Nicolas Darvas. Note their next earnings dates.