IBD: correction over; 18th day of $QQQ short term down-trend Tuesday, October 21, 2014Tuesday, October 21, 2014 @ 8:20 pm by Dr. Wish GMI2/6 GMI-25/9 T210837% IBD says Tuesday was a follow through day and marked the end of the correction. I will wait for the GMI to turn positive before I re-enter the market. I still do not trust this rebound yet. Share this:EmailFacebookTwitterLinkedInPrintMoreSkypePocketPinterestTumblrRedditTelegramWhatsApp Related
3 thoughts on “IBD: correction over; 18th day of $QQQ short term down-trend”
Mark Minervinni said he would wait a few days making sure distribution days won’t follow right after the follow through. Patience will prevail.
you’re right. IBD simply does not want to be LATE in calling a turn around, as the paper has often been late in the past by 4 or 5 days.
You mention in your post that Oct. 21st is the 18th day of $QQQ short term down-trend, however the QQQ has been in an uptrend since Oct. 16th. Can you clarify how you are characterizing the term “short term down-trend”?