The short-term S&P model is just touching overbought right now. I am feeling uncomfortable in the current trade, but I think this justifies continuing to hold objectively.
There have been so many gaps in recent weeks that there have not been much chance for these short-term overbought or oversold signals to occur (gaps don't factor into it much). And the rest of the time has been very choppy in between.
As a little side note, the QQQQ may form a bearish engulfing today if there is no further strength today in the market. That again would be support for holding the trade.
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