General Market Index (GMI) table

Blog Post: Day 16 of $QQQ short term up-trend; Major indexes are still not in confirmed up-trends yet, see weekly charts of $SPY and explanation. Boston IBD Meetup for 5/21 is full but register to receive free recording.

@ 7:04 pm
GMI6/6
GMI-26/9
T210867%

While we have had a nice rebound from the April lows, this weekly chart shows that SPY (as well as DIA, IWM, QQQ) still has a 10 week average below its declining 30 week average. During bull advances the 10 week can remain above the rising 30 week average for months. See also the weekly chart from 2016-2019. Until the 10 week crosses above the 30 week and the 30 week turns up, I remain very cautious and mostly on the sidelines. The May 21 Boston IBD Meetup is full. If you register here  you will receive a free recording of my presentation.

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The GMI remains Green and at 6 (of 6) but QQQ is still in a Stage 4 down-trend.

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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.

@ 9:31 pm
GMI4/6
GMI-26/9
T210855%

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.

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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.

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Blog Post: Day 6 of $QQQ short term up-trend; $QQQ. $DIA, $SPY, $IWM retake their 10 week averages! Keeping an eye on $UBER, see daily and monthly charts

@ 10:17 pm
GMI4/6
GMI-26/9
T210850%

UBER is above it last green line but just below its ATH of 87, see monthly chart. I did not draw a new  green line at 87 because the GLB (green line breakout) did not hold. Notice how UBER stopped in February at the green line and broke through on Friday, see daily chart. Be careful, earnings are expected on May 7. Last February, UBER took off with earnings. Will it repeat this week? Holding through earnings is risky and a gamble. Note the blue dot signals, to be explained at my free Boston IBD Meetup presentation on 5/21. Register in advance when they release the meeting link and you will also receive the session recording.

GMI=4 and could turn Green on Monday. This rally could still end after earnings season. Bottoms often occur in October. Until then, I ride the up-trend, a little.  But I remain largely on the sidelines until the Stage 4 down-trend in the indexes should end.