August 22, 2017

QQQQ lowest oversold reading in over a year

Keeping it short tonight as I am working on updating the site it (should be finished in the next few weeks). Stay tuned!

That is right the tech heavy Nasdaq 100 (QQQQ) actually remained in the red today while the other major indices moved into black and rallied into the closing bell. Yes, QQQQ did move well off its lows, but it still was unable to push into positive territory. As a result, our ETF Extremes strategy is very near a signal which could come as soon as tomorrow. Yippee!!! Hopefully, things hold up and the signal kicks in and most of all lets hope for a positive trade if indeed one occurs.

Overbought/Oversold for January 23, 2008 

S&P (SPY) – 35.4 (neutral)

Russell 2000 (IWM) – 48.3  (neutral)

Dow (DIA) – 44.7 (neutral)

Nasdaq 100 (QQQQ) – 8.9 (very oversold) 

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