If the 30 week average turns down I will exit the market in all of my retirement accounts. This signal got me out before the bulk of the 2000 and 2008 declines. Note that last April the 30 week average held.
Day 11 of $QQQ short term down-trend; Modified Guppy charts show that GOOGL and INTC should have been exited long before their current earnings swoons.
I urge everyone to check out my modified Guppy chart (F5) to assess their stocks’ short term trends. I would never hold any stock in a daily BWR down-trend, especially near earnings. You can get my 5 major chart patterns, including the modified Guppy chart (F5) by subscribing to Deepvue. Learn how I use these charts by reviewing my recent Money Show presentation.
I am so sorry for traders that get caught in these down-drafts. Look at what happened to INTC after earnings release tonight. This chart includes the after market decline. Focus on the stock’s behavior to alert you to probable bad or good news.
Day 7 of $QQQ short term down-trend; 36 ATHs, 11 banks and 7 oil & gas. QQQ is sitting on its 30 wk average, see weekly chart. GMI=2 and RED;
QQQ must hold its 30 week average or is at risk of starting a Stage 4 down-trend. See my recent October 20 Money Show presentation here or on the webinars tab on this blog. Also get the discount for Deepvue and receive my “F” charts.
