Nasdaq just closed under the 50 day moving average

Scataphagos said:
Actually it does... often, with the 50 and 200 day averages... which is why everyone should know where the market is relative to those two.
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Exactly/enough care about those to note them.
QQQ made a clean break thru on the 50dma downside/but looks like it may close above, with 20 minutes til close. NOT a prediction or insult/LOL .Tech ETFs are still strong uptrends...........................................................................................
 
derektrader said:
The Naz just closed under the 50 day moving average on good volume.
This is going to fall a lot more.
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+3% today, the bulls are still in control...

businessman-riding-a-bull-market-1024x538.png
 
Overnight said:
Use caution.
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The beauty with trend-following is that we don't have to worry about anything, we just follow the stupid trend, up or down it does not matter.

So yes, it could be a dead-cat bounce, but it could also be the beginning of a new, gigantic, mega uptrend.

In both cases we trend-followers will go EXACTLY where the market wants to go.

When we really think about it, assuming in advance that the market will do this or that (because it is "overbought" or "oversold" for instance) is totally insane.
 
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Tradex said:
The beauty with trend-following is that we don't have to worry about anything, we just follow the stupid trend, up or down it does not matter.

So yes, it could be a dead-cat bounce, but it could also be the beginning of a new, gigantic, mega uptrend.

In both cases we trend-followers will go EXACTLY where the market wants to go.
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Good points;
SEPT + FEB have had what some call ''a dead cat BOUNCE'' [a common pattern in single stocks]. SQQQ + related was fairly lively early in SEPT.
But teck stocks/ETFs tend to do so well in the first+ last quarter= I look for 9 lives+ more above 50 day moving average...…………………………………………………………..Not a prediction.
 
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