QQQ and SPY comparison in uptrend
Comparing QQQ and SPY we can that they still both hold up above the support lines.
This upward trend breakthrough remains fairly strong so far. Its looks like the down trend we have been dealing with for the past 2 months may be coming to an end now overall. Since we still have October to go through, its certainly possible to get one more sell off before we go into a full bull swing.
- QQQ and SPY are now showing to hold above their long term downward trend, signaling a turn around
- RSI still remains pretty stable on both with only slight weakness on SPY
- MACD on both showing leveling off with slight down ward move forming.
- Volume is looking to decrease lately
This upward trend breakthrough remains fairly strong so far. Its looks like the down trend we have been dealing with for the past 2 months may be coming to an end now overall. Since we still have October to go through, its certainly possible to get one more sell off before we go into a full bull swing.
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