Stock Market Technical Indicators & Analysis
I remain short the QQQ in the leveraged ETF, SQQQ. With the GMI having flashed a Sell signal, I think it best to be short or in cash. It never pays for me to fight the general market’s trend. I am publishing this post Sunday night in case I lose power from the storm.
With just about all of the leaders having been shot down, it remains to be seen if the rest of the market will follow. In cash and short.
10.4 daily stochastic for QQQ is very oversold (at 7.66, see chart below) and put/call ratio has been high. Bounce may be coming but I am content to wait on the sidelines, mainly in cash or short. I will re-enter market on long side only when QQQ short term trend turns up.
