But I trust a new short term up-trend more once it reaches 5 days. Still, I might buy a little TQQQ. Note the narrowing Bollinger bands. Big move coming, up or down. Stay tuned.
Dr. Wish
Blog post: 7-10 yr treasuries enter longer term weekly BWR down-trend–rising interest rates will kill the bull
Want to know what is going to kill the bull? Higher interest rates (indicated by falling bond prices) suck money out of the stock market as investors seek less risky returns by buying safer government bonds. This weekly chart tells the story.
Blog post: 25th day of $QQQ short term down-trend; if a growth stock trader cannot go to the sidelines during a QQQ down-trend, that person is addicted to the rush of the market rather than making money.
If I want to reach a top floor, I get on an elevator that is rising. If it stops or reverses, I get off and wait for the next elevator that is going up. I don’t marry an elevator.
