My trading accounts are now in cash or in SQQQ. The failure of leading stocks to hold during the last week of the quarter is a serious omen for me. Moreover, most recent green line break-outs have failed to hold. I remain invested in mutual funds in my university pension for now. IBD has now called the market in a correction. The GMI has fallen to 2 (of 6). Another day below 3 will trigger a new GMI Sell signal.
Month: March 2014
2nd day of $QQQ short term down-trend; $AAPL shines; $HAL green line break-out
AAPL shined again on Tuesday. AAPL held its trend line break-out for the second day.
HAL had a green line break-out with above average volume last Friday. So far, it is holding. Cup and handle? Check out this daily chart. (I have a very small position in HAL.) IBD comp rating: 89
New $QQQ short term down-trend; $AAPL showing strength
I am raising stops and getting ready to move into SQQQ if this down-trend continues. It is still possible the market will rise the rest of the week with end of quarter window dressing. But they are shooting all of the leaders now, except for AAPL. AAPL was strong on Monday and may have broken its down-trend (green trend line) , see daily chart below. I took a small bite of AAPL on Monday and will spit it out if it falls back below this trend line.
