General Market Index (GMI) table

Blog Post: $QQQ short term down-trend could end Monday, the GMI is Green, Mr. Market appears to be getting ready to rally, compare current pattern with 10:30 weekly charts of bottoms in 2020, 2009 and 2002

@ 7:31 pm
GMI4/6
GMI-26/9
T210851%

After coming close to beginning a new longer term decline, the market appears to be getting stronger. MY QQQ short term trend indicator could turn up with a good day on Monday. This 10:30 weekly chart of QQQ shows its 10 week average (dotted line) is now above its 30 week average (red line). This pattern has been true for DIA and SPY for several weeks. This pattern of the 10 week above the 30 week typically indicates the beginning of a major longer term up-trend. The gray line is the weekly close. If the gray line  should return below the two averages and lead the 10 week below the 30 week it would likely signal the end of the new up-trend.

Here is the 2020 bottom.

And the bottom in 2008-9.

And the 2002 bottom.

The GMI continues to flash Green and is at 4 (of 6).

 

 

Blog Post: Day 30 of $QQQ short term up-trend, it may end Monday; 64 US new highs Friday and 176 lows; GMI close to turning RED, but I wait for signal–do not jump the gun

@ 6:22 pm
GMI4/6
GMI-23/9
T210848%

I will buy a little SQQQ if the QQQ short term up-trend ends on Monday. Most ominous is the fact that SPY has now closed below its 10 week average. Also, the 10.4 fast weekly stochastic has now crossed below the slow stochastic for SPY, DIA and QQQ. A weak day on Monday would likely reduce the GMI to 2 (of 6). Two consecutive days with the GMI below 3 would turn it Red. All of these technical indicators are picking up a possible change to down in the longer term trends. Many indicators are oversold and the market might hold and bounce. Wait to see!!!!

Blog Post: Day 26 of $QQQ short term up-trend; Weekly 10:30 charts show $DIA and $SPY turning around, but not yet $QQQ

@ 9:05 pm
GMI6/6
GMI-23/9
T210867%

This weekly chart of SPY shows the 10 and 30 week (red solid line) averages and the gray line shows the weekly closes. As long as the 10 week is above the 30 week average the market is in an up-trend. Note the closes are leading the index higher.

The DIA is even stronger.

QQQ is lagging but pointing upwards.

The GMI remains Green at 6 (of 6).