Note the recent volume spikes. The green line peak was set February, 2021 at 56.40. See if it can stay above that price.
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Blog Post: Day 9 of $QQQ short term up-trend; $SPY has is likely to close above its critical 30 week average for the third week–end of Stage 4 decline? See chart.
This weekly chart looks promising as the 30 week average (red solid line) is about to curve up. This is a prime signal for me to begin tiptoeing into the market again. If SPY closes back below the 30 week average I will quickly exit.
Blog Post: Day 8 of $QQQ short term up-trend; part of the market is showing signs of strength; see $DIA and $SPY in daily RWB up-trends, leaving $QQQ behind, read my rationale…
It has been my impression that after a scary market decline, people are more risk adverse and first seek out the big name large cap stocks to invest in. Once they profit from these trades they feel more comfortable buying the more risky growth stocks. This may be why the DIA and SPY are looking much stronger than QQQ. See below the daily adapted GMMA charts for each. DIA and SPY have developed RWB up-trends.
Today, I therefore started to slowly reinvest my university retirement funds in mutual funds that track the SPY. The troubling news about inflation and a possible future recession may already be baked into the market. It is very difficult to stay scared of the same issues for a long time. If I am proved wrong about the market’s trend I will simply exit again–I am a nimble chicken.
