Tuesday was the 21st day of the current QQQQ short term up-trend. The T2108 is back to 86%. Another RWB rocket stock near an all time high: TRS. (Click on chart to enlarge.)
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GMI declines to 5, GMI-R to 7.
The short term trend of the market continues to weaken. The T2108 is at 82%, still near overbought territory. Only 53% of the Nasdaq 100 stocks closed with their MACD above its signal line, down from 95% 10 days ago. I have reduced some positions in my trading IRA as I wait for the next rally attempt. The QQQQ short term up-trend reached 20 days on Monday. I am waiting to see if options expiration or earnings release can drive the market higher.
18th day of QQQQ short term up-trend; RWB rocket stock: DORM
The QQQQ short term up-trend completed its 18th day on Thursday. During that time, the QQQQ has risen 7.4% , QLD (the ultra 2x bullish QQQQ ETF) by 15.6%, and the TYH (3x bullish technology ETF) by 22.7%. This analysis shows once again that one can do quite well by riding the up-trend with one of the 2X or 3X ultra index ETF’s. Below is another RWB rocket stock to begin to research. During tough economic times people tend to fix their cars rather than trading them in, thus producing profits for auto parts businesses like DORM.
