I suspect we are in the post earnings release down-trend period. About 40% of QQQ short term down-trends have lasted 5 days or less.
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Blog Post: Day 12 of $QQQ short term up-trend, could end on Wednesday; longer term up-trend still intact with GMI=6
QQQ closed back below all 12 averages. RWB up-trend over. Time to be very defensive.
Blog Post: Day 10 of $QQQ short term up-trend but very weak and is still in a RWB daily up-trend, see chart; How did anyone get caught in $FMCI? $INTC? See adapted daily guppy charts. A picture is worth 1,000 words.
