Commentary

3/17/21 Current Signals xCF

Yesterday, QQQ was able to almost touch the March high at 324 before pulling back, amid the siren song of possible juicy 2% 10 year treasury yields.

Even in this relatively weak environment QQQ made over 2% CC in the last 13 days. If an investor bought everyday at the close and sold at the open, 8% would have been made.

The short term numbers aren’t good, none of the growth ETFs (EtfG) are winning OC at 50%.

CO win rates from c0 and c3 are a technical problem. If SPY return is negative CO most stocks will be down CO, so we typically see a c0 wCO of less than 10% which is saying over 90% of other equities are down when that happens. A similar but opposite issue is evident with c3. In the most recent 13 day period the c0 number is 30. That indicates a disturbance in the Force.

Probably nothing to panic too much about, but the worm may be turning.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s