AAPL accounts for a large part (10%?) of the NASDAQ 100 Index and may explain why the QQQ is stronger than the SPY or DIA. AAPL has gone vertical with the problems faced by Samsung’s phone batteries. The GMI-2 is now 8 (of 8).
2nd day of $QQQ short term down-trend; further declines likely; $TLT predicting higher interest rates
My indicators are not oversold enough. T2108 is only down to 29% and the QQQ daily 10.4.4 stochastics is at 39. However, an analysis I have done found that about 4 in 10 QQQ declines since 2006 lasted 5 days or less. Once a decline passes 5 days it can go on for a much longer period and I am more confident to ride it with SQQQ. Note that 20 year US treasury bonds (TLT) are in a steep decline, predicting higher interest rates. Mr. Market detests higher interest rates…..
