Monday was the 28th day of the QQQ short term up-trend.
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IBD says “market in correction” but my indicators remain positive
Friday was the 27th day of the current QQQ short term up-trend.
26th day of QQQ short term up-trend
My indicators are holding up, in spite of the recent declines in many key stocks. The QQQ was very extended and is just coming down to the major trend lines. I still remain mostly on the sidelines until leading stocks start to rise again. I own a little QID and a little AAPL. If one falls the other should rise.
Note how this weekly chart shows the QQQ returning towards the 4 wk average (red dotted line) and/or 10 week average (blue dotted line). As long as the QQQ remains above its 10 week average, I am confident of the up-trend. Click on chart to enlarge.
