for the QQQQ and now it will be important for the market to hold above daily VWAP (inset)
Results 1 - 10 of 61 for "QQQQ"
Here are some data that have us thinking: maybe the Nasdaq won’t resume its parabolic move from here.There are certainly plenty of short term reasons for Nasdaq bulls to frown and doze off for awhile: the QQQQs are up over 7% in 7 days. Money flow has been stagnant. The ADX line is only barely ticking up, and RSI readings at various periods are all inching toward overbought. The McClellan...
There were 58 new highs and 47 new lows in my universe of 4,000 stocks on Tuesday. Since this new QQQQ up-trend began (by my definition) 5 days ago, the QQQQ has risen 2.5% and 74% of the Nasdaq 100 stocks have advanced; 22% rose by more than 5%. The QLD has risen 5.2%. Staying on the side of the market trend greatly enhances the probability of profitable trading.
The GMI is now 5 (of 6) and the GMI-R is 9 (of 10). There were 134 new highs and 52 new lows in my universe of 4,000 stocks on Monday. June 19 was the last time there were more than 100 new highs (102). Monday was the fourth day of the current QQQQ up-trend. I am accumulating QLD and other stocks.
The GMI remains at 4 (of 6) and the more sensitive GMI-R rose to 8 (of 10). There were 80 new highs and 72 new lows in my universe of 4,000 stocks on Friday. The Worden T2108 indicator is now at 50%. The QQQQ is back above its 10 week average and I am adding stocks and QLD. Friday was the third day of the new QQQQ up-trend. The prior down-trend lasted 39 days.
Click to enlarge:This week, equities saw a powerful upside reversal consistently putting in both higher-highs and lows. The major U.S. indices all ended in the green for the week, with the NASDAQ 100 (QQQQ) leading with a gain of +5.4%. Non-dollar denominated assets performed less spectacularly, however, with the EAFE International index (EFA) nearly flat as the USD found footing on the possibi...
Thursday was the second day of the new QQQQ up-trend. However, there were only 36 new highs and 81 new lows in my universe of 4,000 stocks on Thursday. Three fourths of the Nasdaq 100 and S&P 500 stocks had their MACD close above its signal line, a sign of a growing up-trend. The QQQQ 10 day average is now above its 30 day average. I am slowly buying some QLD.
For the first time since June 17, the GMI is 4 (of 6); the GMI-R is 7 (of 10). In addition, the QQQQ completed day one of a new short term up-trend, U-1. My longer term indicator for QQQQ remains in a down-trend. So, this may be a tradeable bounce. There is no way to determine how long it will last. It just means to me that I can tiptoe into this market on the long side and play the up-tren...
The markets started off on the defensive except for tech which was bullish following CSCO earnings last night. Oil and energy surged off of the open ahead of the inventory data. Despite weak data, energy held its gains by the end of the session. As you can see from the above charts, technology broke out of its base today and cleared the 50 DMA. The only caveat is the declining volume and that i...
Solid, wide range reversal day, but volume was disappointing (especially notable on the QQQQ). We gapped up and closed on the highs of the day. The FED statement seemed to help although the entire session was bullish on lower oil and better than expected ISM. We do have a lot of resistance just ahead including July highs and 50 DMA just above.Leadership today was provided by transports (airline...