Blog Post: Day 10 of $QQQ short term down-trend; Is this a dead cat bounce? $QQQ will need to break out of this channel to suggest a real turn up. I am presenting about GLBs at the Minervini Birthday Gala in Myrtle Beach on Friday.
QQQ has found support at its lower 2.15 Bollinger Band again but it remains in a descending channel. A convincing close above this upper channel, now around 522-23 would suggest to me a real change in trend. Or is this an earnings release rally that will fade after most earnings are out? A post release lull is common. Stay tuned….I will be presenting about GLBs at the Minervini Birthday Gala late Friday. Come say hello.
