If the QQQ remains down or flat on Wednesday, I will begin a new short term down-trend. AAPL remains weak and I never hold it when it closes below its 10 week average. It has done so for the past two weeks. I remain very cautious.
Dr. Wish
QQQ short term up-trend reaches 9th day, but troubling signs emerge in leaders
The short term up-trend may be in jeopardy, with pre-market futures weak this morning. I am still very concerned about the continued weakness in AAPL’s shares. When the leaders of a bull market weaken, it often is an early sign that the other stocks will follow. GOOG, AAPL, NFLX and FFIV are well below their highs. Time to be cautious again.
8th day of QQQ short term up-trend
All of my GMI indicators remain positive. This week, first quarter earnings announcements begin and on Friday we have option expiration. I am still concerned about the weakness in AAPL and the QQQ. Note that the QQQ closed back below its 10 week average. Nevertheless, I must ride the up-trend for now. Click on table to enlarge.
