QQQ up against resistance.
Dr. Wish
3rd day of $QQQ short term up-trend; T2108 calls bottom again!
SPY, DIA and QQQ have overbought daily 10.4 stochastics. The Worden T2108 is zooming!!! Now about 58% of NYSE stocks closed above their simple 40 day moving averages! Note that the market bottomed in August when T2108 was below 10%.
2nd day of $QQQ short term up-trend within a Stage IV down-trend?
QQQ is near resistance. A lot of indicators are converging around 107-108. Will QQQ break through?
The QQQ remains in a technically weak pattern with the 4wk<10wk<30wk averages. As long as the 30 week average (solid red line) is moving down we are in a potential Stage IV down-trend. This is no time to be long, except for addicted gamblers.
