GMI: 5?

The GMI declined to 5, as it looks like the Daily QQQQ Index is probably negative.  Only 3-16% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 Indexes rose on Wednesday.  Gmi0328 While I usually like to see two down days before I call a down-trend, the index looks so weak that I am comfortable calling the change in trend.  The QQQQ and SPY are now below their 10 week averages. I am closing out my long positions.

See the bottom of yesterday’s post for my disclaimers.

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