Up-trend has barely held on. I remain very cautious and am mainly in cash in my trading accounts. Check out this interesting post on the low levels of bearish sentiment. There are too few bears right now.
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QQQ short term up-trend in jeopardy; AAPL weak
If the QQQ remains down or flat on Wednesday, I will begin a new short term down-trend. AAPL remains weak and I never hold it when it closes below its 10 week average. It has done so for the past two weeks. I remain very cautious.
QQQ short term up-trend reaches 9th day, but troubling signs emerge in leaders
The short term up-trend may be in jeopardy, with pre-market futures weak this morning. I am still very concerned about the continued weakness in AAPL’s shares. When the leaders of a bull market weaken, it often is an early sign that the other stocks will follow. GOOG, AAPL, NFLX and FFIV are well below their highs. Time to be cautious again.