Dr. Wish

My indicators are holding up, in spite of the recent declines in many key stocks.   The QQQ was very extended and is just coming down to the major trend lines.   I still remain mostly on the sidelines until leading stocks start to rise again. I own a little QID and a little AAPL.   If one falls the other should rise.

Note how this   weekly chart shows the QQQ returning towards the 4 wk average (red dotted line) and/or 10 week average (blue dotted line).   As long as the QQQ remains above its 10 week average, I am confident of the up-trend. Click on chart to enlarge.

My indicators remain positive, but I am   cautious and mainly in cash in my trading accounts.

While all of my indicators remain positive, my group of nine high priced leaders has been weak.   Only 4 of them remain within 5% of their 52 week highs.   Four are around 10% or more below their yearly highs (CMG, BIDU, GOOG, FFIV). Some of the speculative commodities are also weakening.   I am more cautious when the leaders are weak.   I remain largely in cash in my trading account. Will “sell in May and go away” work this year?