GMI: 2; GMI-R: 3 QQQQ on critical level–very cautious

I am very cautious about the continuation of the QQQQ short term up-trend, now in its 24th day. There was only one new high and 33 new lows in my universe of 4,000 stocks on Tuesday. This is not the time to chase stocks at new highs. I am trying to hold onto my cash secured puts through Friday’s expiration. I have cut back QLD and am ready to sell all if the QQQQ declines. This is really a time to be mainly in cash again.

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