Monthly charts of SPY, DIA, and QQQQ all show bearish patterns. But the recent rally in the market is making the patterns look "less ideal" especially on the QQQQ. We had a significant close on the SPY last Friday that could signal more upside, however, I remain cautious because the market is just too overbought for me.
Although I hold QID, DZZ, FUQI; I'm neutral on the market.
We will have to watch and see how the month of September closes.
No comments:
Post a Comment