Stock Market Technical Indicators & Analysis
QQQ is getting very close to a Stage 4 decline. The weekly close (gray line) is just above the 30 week average (red line). Time to be very defensive. If 10 week average (dotted line) closes below the 30 week average I will likely move my university retirement funds out of mutual funds and into cash/money market funds. Also, if that happens, the GMI=0.
My weekly QQQ index will turn negative if QQQ closes below its 30 week average. Then the GMI will equal 0. I never go long when the GMI=0.
QQQ looks like it hit a stone wall at the descending trend line on the daily chart.
However, the 10:30 weekly chart is still in a longer term Stage 2 up-trend. Stay tuned…..
The GMI is at 2 (of 6) and on a Red signal.
Note that the 10 week average remains above the 30 week average. I am looking for this ETF to climb back above its 10 week average and for that average to turn up. For now, I remain partially invested in growth mutual funds in my university pension accounts. The gray line tracks the weekly closes.
SPY is a little weaker.
These 21 stocks had a weekly green bar last week (recent ATH and 4wk>10wk>30wk and bounced up off of rising 4 wk and 20 wk high in RS) and are worth monitoring. They are sorted by price/lowest price past 250 days.
The GMI= 2 (of 6) and is still RED.
