BABA reports earnings on Thursday. Can it break through resistance?
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Come back at Halloween; 24th day of $QQQ short term up-trend
Heading into the strongest seasonal period for the market- Sell in May and go away, come back at Halloween….
FANG stocks help $QQQ but mask weakness in leaders–$IBB; 23rd day of $QQQ short term up-trend
While AAPL, FB, AMZN and GOOGL are hot and driving the QQQ higher, most other stocks are weak. Only 28% of US stocks rose Monday and my GMI component, the successful 10 day new high index, turned negative. This daily chart of the biotech ETF, IBB, shows how this hot sector has rapidly cooled. What happens when (not if) the market is de-FANGed…….
