Blog Post: Day 41 of $QQQ short term up-trend, GMI declines to 4 (of 6); After 9 straight weeks above, $QQQ is now below its 4 wk average, see weekly chart


A stong advance is evident when the 4wk>10wk>30 average and the stock continually climbs above the 4 wk average. It is clear from this chart that QQQ is now below the 4 wk average (red dotted line). If it closes the week below, it suggests to me that the recent up-trend is over for now. We now have to see whether it finds support at the 10 wk avg (blue dotted line). SPY and DIA show similar patterns. The longer term trend remains up as long as the index is rising above the climbing 30 wk avg (Stage 2). I am mainly in cash now in my trading IRA.


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