The QQQ has closed above its 10 week average for 20 straight weeks! The QQQ short term up-trend count is at 86 days, which is the longest of any short term up-trend since I started counting in 2006. GMI=Green.
Since 2006, the longest QQQ short term up-trend has lasted 88 days. The longer term trends are still up, so this shorter term trend indicator may shatter the record. Only 47.6% of newsletters are bullish, a sign that there is still a wall of worry for this bull to climb. This weekly chart shows that AMZN broke above its green line to an ATH last week on above average volume. This could even be a long cup and handle break-out, although the cup was quite deep. If I buy a GLB (green line break-out), I always sell with a close back below the green line.