QQQ and DIA look like SPY. Failure to climb above declining 30 week average this week could signal more weakness. This is a weekly chart. Look what happened last April.
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Blog Post: Day 14 of $QQQ short term up-trend; GMI=5 now that QQQ closed above its 30 week average; $DGII and $OTTR have GLBs, see weekly charts
We still have yet to get 100 new yearly highs among US stocks that will incease the GMI to 6/6. This market continues to climb. However, only 2 stocks came up in my Weekly Green Bar scan of 806 stocks in my IBD/MS watchlist. DGII and OTTR have also had GLBs this week. Here are their weekly charts. Note their volume through Thursday has already exceeded their typical full week’s volume. Part of my scan requires that RS (relative strength vs SPY) to be at a 20 week high. The weekly green bar on the chart represents a bounce up off of a rising 4 week average (red dotted line).
