GMI: 0; GMI-R: 0; 54th day of QQQQ short term down-trend; in cash and short

The GMI and GMI-R remain at zero.   There were 5 new highs and 185 new lows in my universe of 4,000 stocks on Friday.  GMI1114

The Worden T2108 indicator (% of NYSE stocks above their 40 day moving average)   is at 11%, still in bottom territory.   The QQQQ completed the 54th day of its short term down-trend on Friday. Only 68% of the NASDAQ 100 stocks have a MACD above their signal line, down from 94% a week ago.   So the technicals have weakened somewhat.   I see no reason to change my strategy from remaining mostly in cash with a few select shorts.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.