QQQ analysis across reports

Last week was the first time since this entire uptrend that Nasdaq closed at dead lows and below the 4-week moving average. Regardless of which way we go from here that is a big change in character from the previous 9 weeks and warrants short-term caution.

Despite the rest of the market Nasdaq made a new weekly closing high breaking out of this 4 month range we've been in. At the moment it looks strong. This is the index that matters most to my process so most focused here. QQQ leading SPY is better environment

Arrow to show last time we failed to hold above the 30-week. As of this weekend however the QQQ is still above.