I will be looking for a true change in the market’s trend when the 10 week average (blue dotted line) retakes the 30 week average (red solid line) and the 30 week average turns up. Until then, I am less confident of a true change in the longer term trend of QQQ or DIA. The gray solid line is the weekly close
DIA is stronger but not there yet.
2 thoughts on “Blog Post: New $QQQ short term up-trend; GMI= 5 and remains on a Green signal since 10/26; Can 10wk average retake 30 wk? See weekly 10:30 charts of $QQQ and $DIA”
I have been watching your work for more than a decade, since you first became Sir Silent Knight & i use the 35-day simple moving average as an improvement to keep out of the frequent whipsaws I find you suffering through.
Thank you for your nice note. It is nice to hear from someone who remembers the Worden Knights! I am also following the 8 and 21 day exponential averages because they seem to be popular with other technicians. Happy Holidays!