Blog Post: Day 1 of new $QQQ short term down-trend; 29 US new highs and 180 lows; 30 year treasury bonds, $TLT, continue to crumble as rates rise, see chart, time to go fishing…

Indicators

  • GMI: 2/6
  • GMI-2: 1/9
  • T2108: 22%

The market cannot compete with high interest rates. Investors abandon stocks and hide in safer government debt or high yield savings accounts earning 5% or more. Only 6 stocks hit an ATH on Thursday. This is not the time to buy and hold stocks at new highs. Breakouts are failing. Jesse Livermore would go fishing or go short….

The post Blog Post: Day 1 of new $QQQ short term down-trend; 29 US new highs and 180 lows; 30 year treasury bonds, $TLT, continue to crumble as rates rise, see chart, time to go fishing… first appeared on Wishing Wealth Blog.