I am concerned that there were more US stock new lows than highs on Friday. In addition, SPY closed below its declining 30 week average. This could be a deepening Stage 4 down-trend, especially if it cannot close this week above it. IWM and DIA look even weaker. However, QQQ closed above its flat 30 week average. So which index is the leader? I think this week’s action should tell us. Meanwhile, I own a little GLD and IBIT (GLB last week). I will exit quickly if weakness materializes. GLD has been nicely tracking my blue dot bounces, see daily chart. I explained my Blue Dot of Happiness indicator in my presentation last week to the Boston IBD meetup. You may sign up for the wait list for my future Masterclass with TraderLion here.
The GMI=5 (of 6) but look at how my most sensitive components in the GMI2 are weakening.
