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It looks like the consolidation is over. I am slowly accumulating TQQQ as  long as QQQ is rising. My analyses over the years have demonstrated repeatedly that during a rise in QQQ, TQQQ rises about 3x as much and beats more than 90% of individual stocks. This daily chart shows that QQQ has broken out of its recent channel.

QQQ continues to decline within the downward sloping channel I described in my post last night. Another sign of potential weakness is the fact that AAPL closed Thursday again below its green line. AAPL had a GLB on 11/29. The green line top was at 237.23.  After a recent GLB failure, the attempt to stay back above its green line has failed on above average volume. NVDA is also below its recent green line top, see weekly chart. A close below its 30 week average (red line) could be ominous.

If you have been invited to attend the Minervini Gala this weekend, I hope you will say hello. I will not post again until early next week. My trading accounts are in cash or TBIL. Be careful.

QQQ has found support at its lower 2.15 Bollinger Band again but it remains in a descending channel. A convincing close above this upper channel, now around 522-23 would suggest to me a real change in trend. Or is this an earnings release rally that will fade after most earnings are out? A post release lull is common. Stay tuned….I will be presenting about GLBs at the Minervini Birthday Gala late Friday. Come say hello.