Short term up-trend in jeopardy


Monday’s carnage reduced the GMI and GMI-R, and the short term up-trend in the QQQQ is in jeopardy.   The longer term weekly up-trend and Stage 2 up-trend are still intact, for now.   There were only 4 new highs and 12 new lows in my universe of 4,000 stocks on Monday.   The Worden T2108 indicator is now at 35%, and most declines do not stop at this level.   Typically, declines end with readings below 25%.   I got stopped out of several positions on Monday.   This is not the time for bravery, but for close stop losses, in case things decline more.

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