GMI:5; QQQQ stalled

The GMI is still 5.  My indicators are resting on support and could go either way.  Gmi0130_1 The 10, 30 and 50 day averages for the QQQQ are almost identical, indicating little change over these time periods.  From 11/22 through Tuesday’s close, the QQQQ has declined 2.46%, and in that time only 36% of the Nasdaq 100 stocks have risen more than 1%.  We should not bet against the market trend!  When the index breaks from this long plateau, it will probably be a large move.  Tuesday was the 4th day in the current QQQQ down-trend.

See my disclaimers at the bottom of my prior post.

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