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40th day of QQQ short term down-trend; Indexes fail to break through resistance

@ 7:00 am
GMI1/6
GMI-22/9
T210824%

The indexes and a lot of stocks came right up against resistance on Monday and failed to break through.   The daily chart of the SPY, below, shows how the S&P 500 index could not hold above its declining 30 day average (red line). Last week’s   bounce off of   extremely oversold levels appears to be over.   I bought some QID Monday, hoping to make money as the QQQ declines. AAPL is one of the stocks that stopped at resistance on Monday, as did V, NEU and CMG.   I am in cash and/or short.

38th day of QQQ short term down-trend; Gold up against resistance

@ 6:00 am
GMI3/6
GMI-23/9
T210825%

The daily Guppy chart (GMMA) shows that the gold ETF has been in a down-trend.   The short-term averages (red) are up against the longer term averages (blue).   It remains to be seen whether GLD can break through this resistance around 157-158.   The GMMA is composed of 12 exponential moving averages:   3,5,8,10,12,15 and 30,35,40,45,50,60.