Same SMA rule applies to QQQ If the QQQ loses support at the SMAs and they turn Negative and offering Resistance then I will become Bearish. Until then I would only be looking for short term corrections to retest Support at the SMAs. Would that classify as a Long Term timer even if most of the moves have not lasted more than a month or two in the past? :^)
Simple Market Analysis If the Markets, any of them, are trading Above their SMAs and they are Inclining and holding Support at the SMAs then be long term Bullish. If the Markets are trading Below their SMAS and they are Declining and offering Resistance then be long term Bearish. Most all of the SMAs can be used for whichever timeframe chart you are looking at, Intraday, 5 day, monthly, yearly or setting 1 minute, 5 minute, 15 minute, 30 minute, hourly, etc for either short term or long term trades. JMHO though :^)
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