After only one day saying the market was in a correction, IBD up-graded the outlook to up-trend under pressure. The GMI also came back from the brink, rising to 5. This extreme volatility is difficult to interpret, with technical indicators going back and forth. It will take another strong day to change the QQQ short term trend to up again. I remain on the sidelines in my trading accounts, waiting for the dust to settle. The longer term trends remain up, with QQQ, SPY and DIA still in Stage 2 up-trends. I therefore remain fully invested in mutual funds in my university pension accounts.
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