Strategy Update (2024-01-09)

TQQQ bounced strongly above 10 and 21 EMAs on Jan 8th triggering again a buy signal and a change to green on the following day.

Alpha Signals strategy back to a green signal on Jan 9th

Looks like the current short-term uptrend has legs and we have started to accumulate some TQQQ. Should this positive trend continue, TQQQ seems like the ideal ETF to capitalize on it.

TQQQ tends to outperform the majority of stocks during market uptrends. In the previous short-term uptrend of QQQ, which lasted 42 days, TQQQ saw a notable increase of +34.9%, surpassing 95% of Nasdaq 100 stocks and 99% of S&P 500 stocks.
There's really no need to search for the rare needles in the hay stack (5% or less) that could outperform TQQQ. I just focus on detecting a potential QQQ uptrend in the making, as per my strategy, and ride TQQQ.

Considering the soon to start earnings season, there's a reasonable likelihood of the current short-term trend to continue. However, in the event of a reversal, I am prepared to exit promptly.