Stock Market Technical Indicators & Analysis
Since the first day of the new QQQ short term up-trend, the QQQ has advanced + 6.5%, but TQQQ is up +19.9%. Only 5 of the NASDAQ100 stocks advanced more than TQQQ. I buy TQQQ because I cannot identify in advance the five stocks that could beat TQQQ (WDC,MU,KLAC,SYMC and SBUX). Only 13 (under 3%) of the stocks in the S&P500 index rose more than TQQQ. I also write weekly calls on TQQQ and SPY.
SPY remains in daily RWB up-trend too.
By focusing solely on what the market is doing, I have held positions in TQQQ and SPY. This chart shows a sustained daily RWB up-trend in place since mid-June. The GMI turned Green a few days earlier on June 10. The QQQ has not closed (dottted line) below all 6 red averages since June 3rd. I will exit partially with a close below all red averages and fully when one or more of the red averages decline to converge with the blue averages.
