GMI: 5; 78% of Nasdaq 100 stocks down since 2/22

The GMI is still 5, and the QQQQ is in its Gmi0330 third day in its short term down-trend.  Furthermore, the QQQQ,  SPY  and DIA index ETF’s have all closed below their 10 week averages.  During such periods I am unlikely to make money by staying long.  The 30 day average for the QQQQ has now completed a rounding top and is now declining.  Since the Nasdaq 100 index reached its closing peak on February 22, that index has declined 4.16% and 78% of the Nasdaq 100 component stocks closed Friday below their close on 2/22; one half are down 5% or more from 2/22.  Don’t fight the trend of the indexes–go with the odds.


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