Blog Post: Day 11 of $QQQ short term down-trend; 29 US new highs and 191 new lows; $SQQQ +16.5% as longer term down-trend of QQQ remains intact, see weekly and GMMA charts
The longer term down-trend for QQQ is holding. As I said on Monday, it was important for QQQ to hold above its 4 week average (purple dotted line). It has not. I am almost all in cash with a small position in SQQQ. See weekly charts below.
Weekly BWR down-trend is intact.
