Selling any rally proves profitable

Another selloff in the last hour...showing again that recent rallies should be used as an opportunity to sell into (last Thursday being an excellent example). QQQQ continues to look weak by all measures but we must be on the lookout for a strong bounce.

China stimulus fails to spark follow through of buying

The China stimulus steps were unable to keep the market propped up during the session, and selling resumed again. We believe this is the likely pattern that will take place in the near term, with rallies providing good opportunities to sell into the QQQQ. Earnings also seem to be weighing on the index, with Starbucks disappointing after hours on Monday.

QQQQ rally has stalled

The sharp rally in QQQQ last week appears to have faded today, and we would expect more weakness ahead. Investors should be in protection mode now and not listen to commentators who are saying stocks are cheap...they are not by any historical standards. Our apologies to our subscribers for our site problems recently, we are working hard with our new web host to resolve them.