GMI: 2; GMI-R: 5; Signs of a turn; QLD

The GMI rose to 2 (of 6) and the GMI-R to 5 (of 10).  The more sensitive GMI-R is picking up strength in my very short term indicators.  A few more days up will turn the GMI positive and end the QQQQ down-trend.  The QQQQ completed the 35th day of its down-trend on Wednesday.  The Worden T2108 indicator is now at 37%, well into neutral territory.  There were 69 new highs and 63 new lows in my universe of 4,000 stocks on Wednesday. It is time to look for strong stocks that are breaking out.  Once the trend is up, I will discuss the stocks I am watching.  Right now I am wading into the ultra long QQQQ ETF, QLD.

1 thought on “GMI: 2; GMI-R: 5; Signs of a turn; QLD”

  1. Dr. Wish,

    Thanks for posting this and also your previous reply to me.

    QQQQ shows the MACD crossing several days ago on my chart (daily).

    Another signal for a general trend that is now developing:

    1. 5 day ema crosses 20 day ema

    2. RSI above 50%

    3. MACD histgram possitive

    I often use this set of signals. See March 24 for example.

    However, it also helps if the 50-day average can be crossed. I still think a horizontal market is most likely until the election.

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