Dr. Wish
GMI stays Green; 10th day of $QQQ short term up-trend
A number of the stocks I monitor bounced on Friday and I nibbled. It remains to be seen whether the bounces will hold and whether the indexes will. The QQQ is still in a daily RWB up-trend (see glossary).
The GMI remains Green having rebounded to 4 (of 6). Note that SPY closed below its 10 week average.
In cash; GMI likely to turn Red, but high put/call ratio
My indicators have turned very negative. The GMI and QQQ short term trends will likely turn Red/down by Friday’s close. One positive–put/call ratio Thursday= 1.18. I am in cash in my trading accounts but still invested in mutual funds in my university pension. Major indexes still in Stage 2 up-trends. Check out weekly chart of SPY.
