Weakest pattern, 4wk<10wk<30wk. Don’t catch a falling knife. Be short or in cash. If this becomes a Stage 4 down-trend, this is just the beginning of the decline.
Blog post: Day 30 of $QQQ short term down-trend; Retest of January 24 low (334.15) imminent
Approaching the lower daily 2.15 BB. Will it hold? Sometimes the low is exceeded and then we get an immediate reversal.
Blog post: Day 29 of $QQQ short term down-trend; $QQQ’s 30 week average curving down–Stage IV decline coming?
A declining 30 week average is a major sign of weakness and could portend a Stage IV decline. That is when I used to transfer to cash in my university pension mutual funds. I already have done so.
