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Blog Post: Day 32 of $QQQ short term down-trend; 16 US new highs, 570 lows and 4 ATHs; Last night’s $T2108 called the bounce, see monthly chart from yesterday and explanation
I forgot to post this chart Tuesday night. I tell my students to buy a little of SPY when T2108 declines below 10% and to hold their noses. It actually got below 4%. It is now 11%. I should have followed by own rule. We need a retest to see if this bottom holds. Bear market bounces can be seductive and treacherous. The 1987 crash low for T2108 was 0.47%.
Blog Post: Day 31 of $QQQ short term down-trend; In late February I posted this chart suggesting that $DIA had made a double top! $T2108 monthly chart is very oversold
Here is my post from the day this chart was published on February 23. WOW!!!!
T2108 is at 4%. This is an amazingly oversold market. See monthly chart.
