Dabum, the doji on the Naz did not turn out to be an Evening Star, but it still looks weak. The last two days it has unsuccessfully tested a rising support line. It could go either way.
I sold my QQQ today near the high. Later I shorted and still have it for a gain so far.
Based on the concern over the doji, and because I was out delivering Meals on Wheels today, I tightened up stops this morning and later stopped out of CYMI, CREE, KLIC, RATL, SEBL, ITWO and IWN. All but one of them closed lower than my stops. So the concern were well founded.
I closed out my HAL for a nice profit. Thanks again to your brother for that one!!!
The Russell 2000 took a hickey today. That is a concern because it has been the star of the last year.
I feel like this week is going to be pivotal, one way or another. The 401K money has already started coming into the market. If the indexes hold, we will probably have a good year, if not, we might test the lows again. I hope we will have a better feel soon. I hate all this indecision. I am wearing out my hair switching from my white hat to the black one and back.
Best to all,
JRH
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