Markets remain in short and longer term down-trends. Time to be in cash or short.
22nd day of QQQ short term down-trend; SQQQ up +24.6%
Since Oct 8, QQQ has declined -7.6%; and the 3X leveraged inverse ETF SQQQ has risen 24.6%.
21st day of QQQ short term down-trend; failed AAPL break-out
As I suggested a few posts ago, it is likely that people will take profits this year to avoid higher taxes next year. This could set the stage for an end of year decline. As this weekly chart shows, AAPL looks pretty sick. It failed to hold its recent green line break-out.
