Blog Post: Day 1 of $QQQ short term up-trend; GMI=5; 113 US stocks reached an ATH; QQQ retakes 30 week average, but must hold above it to possibly begin a Stage 2 up-trend, but we are not there yet. Also, watch the 10 week average.
The 30 week average needs to continue to curve up in order to begin a Stage 2 up-trend. As I have written, a down-trend can have QQQ rebound to the 30 week average and then fail. This week’s close will be very important.The GMI is still on a RED signal but could flash GREEN on Thursday. There are many stocks having a GLB that I will talk about as things develop. I will be much more likely to get long when/if the 10 week average climbs back above the 30 week average. We still have 4wk
