Market still on support; GMI: 2; GMI-R: 2

The market continues to rest on support and is unwilling to tip its hand.  The GMI and GMI-R are both back to two.  This is a good time to sit on the sidelines and wait for the new year.  While the QQQQ completed the 14th day of its short term up-trend, it has moved virtually nowhere during this period (-3.7%).  How can I call this an up-trend?  Because the QQQQ has remained above its critical moving average during this period, even though the average itself has been on a slight downward slant. 

1 thought on “Market still on support; GMI: 2; GMI-R: 2”

Leave a Reply

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