GMI:1; GMI-R:1; Bounce or bottom?

The GMI and GMI-R each rose to 1.  Tuesday was the third day in the current QQQQ short term down-trend.  It will take a lot more time to determine whether Tuesday’s rise was the beginning of a real turn in the markets.  For now the QQQQ down-trend (as well as that of the DIA, SPY and IJR) remains intact.  I remain mainly in cash and short through the QID.

1 thought on “GMI:1; GMI-R:1; Bounce or bottom?”

  1. it would seem we should rally for another day or two before a retest. I’ll be looking to do some more buying then. However, no guarrantee this has to happen just like that … but it usually does for panic selloffs.

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