Back in cash for now. Even sold my TQQQ. DIA looking weak. Too many break-downs.
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Blog Post: Day 3 of $QQQ short term up-trend, see daily chart
The bottom seems to be holding and the 8 EMA (dotted line) is now above the 21 EMA on this daily chart. Will it hold or break down like it did in December? Only time will tell.
Blog Post: Day 1 of new $QQQ short term up-trend; Many break-outs occurring, 28 US stocks at ATHs; market bottom may be in?
With a new QQQ short term up-trend in place, I bought a little TQQQ. I will add to my position if this up-trend lasts 5 days. This weekly chart shows that QQQ has held its October bottom, at least for now. And its 30 week average (red solid line) is leveling off. This market may really turn up. But better to wait for the definitive signal than to anticipate one before it develops.
