I believe we are getting ready to have a sell signal on QQQ/TQQQ. Ratio charts are useful on stocks as well as on indexes. For instance, creating a chart of AMZN over any of the other QQQ stocks will generally tell you to own AMZN over any of the others.

But like you can use the QQQ/$GOLD chart to choose one over the other, you can also create a chart of a stock versus gold. The top 10 weighted stocks in the QQQ represent 50.67% of the index.

When you look at those charts, 4 out of the top ten positions have charts favoring gold. Google, FB, Intel, and CSCO show charts with the 220 day moving average below the 440 day moving average.

As the Dow Gold has rolled over already and 4 of the top 10 stocks in QQQ have rolled over, I suspect we are going to see QQQ roll over as well.

BOTTOM LINE: You should have already rolled any S&P 500 positions over into gold. You might want to start taking profits in your QQQ/TQQQ positions as well. Since 4 out of 10 have rolled over, take out 40% of your QQQ/TQQQ position and roll that into gold.

Second quarter GDP comes out tomorrow morning and the estimates are not good. Unless the number is better than expected, it might be the beginning of the end of QQQ/TQQQ for a while.