Thursday, March 19, 2015

Mar 19 - Taking a breather

Although some indexes like DIA/ SPY got nicked today, the positive action in the riskier assets such as tech + small caps was encouraging.

QQQ if it makes new highs could make a similar move as it did last year after a mild correction such as the recent one.  It is also possible it peters out and grinds out some more sideways movement as the recent Dec/ Jan activity, but given the favorable seasonality, I am leaning towards more upward movement and perhaps corrective movement starting in late April to May.

QQQ formed a very nice platform today for potential move up tomorrow.
SPY also looks constructive and the recent buy signal has a good chance of following through.

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