Don’t fight the trend. I am in cash or short the Nasdaq 100 by the QID.
Dr. Wish
GMI:1; GMI-R:1; Bounce or turn?
No changes from yesterday, both GMI’s at 1. Still waiting to see if this bounce holds. Mainly in cash and comfortable just watching.
GMI:1; GMI-R:1; Bounce or bottom?
The GMI and GMI-R each rose to 1. Tuesday was the third day in the current QQQQ short term down-trend. It will take a lot more time to determine whether Tuesday’s rise was the beginning of a real turn in the markets. For now the QQQQ down-trend (as well as that of the DIA, SPY and IJR) remains intact. I remain mainly in cash and short through the QID.