New Setup: QQQ Update

"Courage is resistance to fear, mastery of fear, not absence of fear." QQQ: Only 6% of stocks are trading above it's 5-day average. Also the last time we saw such extreme levels lately was back on Aug 5th and Apr 15th. If you take a look at the QQQ chart, April 15th did continue to pull back like the SPY, but on Aug 5th it quickly bounced. So for right now the name of the game is to hold tight and be patient. Wait until I see the Markets start to get ready to close above its daily 5sma before looking for new setups.