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Dr. Wish
Blog Post: Day 12 of $QQQ short term up-trend; GMI=6 (of 6); Time for me to look for buys near ATHs; See $UBER GLB on daily and weekly charts.
The massive market rise on Monday puts QQQ above its 30 week average. Now the GMI= 6 (of 6). We need to see if it can hold. In the meantime, look at UBER, which retook its green line and closed at an ATH on above average volume. See daily and weekly charts. Must not close below its green line at 81.86.
Blog Post: Day 11 of $QQQ short term up-trend but all major indexes remain in Stage 4 down-trends, see weekly 10:30 charts of 4 indexes and the GMI table.
As long as the 10 week avg (dotted) is below the 30 wk avg (red) and the 30 wk is sloping down, I need to remain very cautious and on sidelines. The gray line is current weekly close and is trying to retake the 30 wk avg. Can it? Sometimes it does and then craters. $IWM looks the weakest of the 4 indexes.
THE GMI=4 and on a Green signal. It is not where I prefer it to be to be long. It is much more profitable to buy strong growth stocks when the GMI=6.
