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Blog post: GMI falls to 3; $QQQ reaches oversold levels–will coming bounce hold? Put/Call ratio = .84, not high enough for most turns; T2108 dives
I have never? seen the T2108 decline so fast. Only 21% of NYSE stocks closed above their 40 day simple moving averages. Major bottoms occur when T2108 is <10%.
Blog post: 35th day of $QQQ short term up-trend but many stocks have failed break-outs, getting more defensive, GMI=4
I went to cash in my trading account yesterday. I want to see if QQQ holds today. We are approaching a traditionally weak period in the market, especially after 2nd quarter earnings are out. GMI has declined to 4 (of 6).
