It looks like TYH, the ultra 3x bull tech ETF, has begun its 5th decline after hitting the top of its short term channel. The longer term trend remains up.
Up-trend continues; GMI strong but T2108 is at 83%
All of my indicators are still in up-trends, with the GMI at 6 and the GMI-R at 10. The Worden T2108 indicator is at 83%, not far from the highest levels that it typically gets to, around 90%. I continue to hold QLD and a few other individual stocks.
Meanwhile, the QQQQ has completed the 43rd day of its short term up-trend and has been above its key 10 week average for 9 straight weeks. No one knows when an up-trend will end. We must wait for the critical technical signals. A trend follower must always get out after the top, after the down-trend has revealed itself. The key is to ride the elevator up and exit near the top floor, before it drops to the basement.
Techs still toppy short-term? T2108 near over-bought.
The TYH tech 3X ETF is still coming down from the top of its short term channel. T2108, at 81%, is getting close to over-bought territory.
