QQQ closed below its trend channel line of support on above average volume. QQQ has also closed below its key 30 week average, turning GMI to 0. This could be the beginning of a major Stage 4 decline. Look out below….
Blog Post: Day 4 of $QQQ short term down-trend; Biotech $SGEN one of a few stocks reaching an ATH and after a recent GLB, see daily chart
Good recent results with a drug regimen for treating bladder cancer.
Blog Post: 312 new US lows, most since 334 on March 20; IBD called Market in Correction yesterday; Daily chart shows $QQQ bounced right where the TCL predicted–but will it hold?
The trend channel line (TCL) in the daily chart below predicted Monday’s bounce. QQQ also bounced up off of the 15.2 lower Bollinger Band, designated by the green daily bar. The next rally could take it to the descending trend line. The TCL must hold, or look out below……
