Stocks this morning are showing little gumption for a follow-through today on Friday’s rally. The bulls need to be careful here that they don’t allow for the selling to suddenly get out of hand. I’ve gone ahead and added to my portfolio this morning with a nice sized position in QQQQ (ETF that tracks the Nasdaq). If this rally is anything like the one from earlier this year when the inverse head and shoulders pattern confirmed, then there could be very little opportunity to take advantage of any sustained market rally.
Here’s My Trade In QQQQ