QQQQ short term up-trend still in peril; GMI: 2; GMI-R: 3

The QQQQ short term up-trend completed its 10th day on Monday.   But it is right on the critical 30 day moving average (28.91).   I remain in a few long positions, but am ready to throw things into reverse if the market turns down. We remain in a major long term down-trend and any counter trend rally can quickly fail.   There were 5 new highs and 72 new lows in my universe of 4,000 stocks on Monday.   The last time we had more new highs than lows was September 19.

2 thoughts on “QQQQ short term up-trend still in peril; GMI: 2; GMI-R: 3”

  1. Dr. Wish,

    Your Christmas to us has been the sharing of YOUR blog and ideas. We thank you and wish you and family a Merry Christmas and Happy New Year 2009.

    Joseph and Jason.

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