Time to look for long entries. However, patience is needed, the QQQ is extended, floating above its 4 week average (pink dotted line). Looking for a decline to that average or maybe a retest of the 30 week average.
Dr. Wish
IBD says market back in confirmed up-trend; GMI could turn Green at Monday’s close
Still in QQQ short term down-trend-21st day. SPY now above its 10 wk average.
20th day of $QQQ short term down-trend
QQQ has rallied back to its 4 week moving average (pink dotted line)
Yesterday’s post: All 3 index ETFs, $QQQ $SPY $DIA, have green dot signals
Green dot signal suggests a bounce from support and may last for a few days or longer. Green dot signals work best when the underlying equity is in an up-trend. However, the QQQ remains in a short term down-trend (D-18). If a green dot signal fails, I immediately exit the position. Get green dot signals drawn automatically on your charts by joining my TC2000 club at wishingwealthblog.com/club. Then access the green dot tutorial video.
