Dr. Wish

$QQQ $SPY $DIA remain in daily and weekly RWB up-trends– why not ride them?

@ 8:06 pm
GMI6/6
GMI-28/9
T210858%

Many of us spend our time trying to anticipate the market’s turns. A true trend follower merely waits for Mr. Market to reveal his intentions and then responds appropriately. These charts shows that the QQQ, SPY and DIA remain in daily RWB up-trends. More impressive is that all three ETFs also have perfect 12 weekly RWB patterns.Why not just ride them?

The GMI remains Green and at 6 (of 6).

5th day of $QQQ short term up-trend; Beware “Sell in May”

@ 7:45 am
GMI6/6
GMI-28/9
T210865%

Market appears to me to be getting frothy. While major indexes are moving higher, they conceal the fact that only only 40% of US stocks (70% of Nasdaq 100 stocks) rose on Thursday, most troops are not following the leaders. With end of month and earnings season coming, I expect weakness near term.  QQQ may be extended having broken above its channel line (thanks Vas).