2023-09-21H Downtrend Day 2 -- I SOLD the TQQQ at TODAY’S open and wait in CASH after FED’s Disappointing Announcement Wednesday.
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THURSDAY: Market gave up the Uptrend with too many falling days, confirmed by the Nasdaq’s Major Distribution day Wednesday. I am glad I am out of the falling QQQ.
I hope you took advantage of the TQQQ but if you only got in the QQQ, you have earned a nice return so far this year and are now in CASH or shorting the QQQ.
Keep the gains you earned this year and consider joining me watching from the sidelines! The 49% rise in the single QQQ or 129% in the TQQQ (triple QQQ.)
I have NEVER had such a weak 20-days as shown in the table below. How many accumulation days can you count?
Yes, you can count just 1 accumulation (buying) day in the last 20 trading days.
>>>>>This year’s market has already paid me well and I can wait in CASH as the sellers continue to move out of the market.
The BAD NEWS: The market moved into DOWNTREND Wednesday after showing 9 days under pressure. The final straw was the bad news in the last 4 trading days : 3 down days and one flat day.
ON THE ACCUMULATION/DISTRIBUTION RATINGS TABLE BELOW……
>>>> THE DOWNTURN OF THE ACCUMULATION RATINGS is a WARNING of MARKET WEAKNESS!
Here is a confirmation of the current weakness in this Uptrend. The A & B rated stocks which had been climbing higher has dropped a frustrating 8% in one week from 47% to 36%.
One additional “Word to the Wise”…
>>>>>--- MOST MARKETS FALL FASTER THAN THEY RISE!
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