Posted Friday, August 10, 2007 @ 12:01 am by Dr. Wish
GMI: 2; GMI-S: 0; Safely in cash
The GMI remains at 2 and the short term GMI-S is at 0. I am safely in cash. There is no reason to trade in this market. I will just sit back and wait for the GMI to signal an up-turn. The Worden T2108 indicator is back to 20. Thursday was the ninth day in the current QQQQ down-trend and the index is now below its 10 week average. I have the best odds of making money on the long side when the QQQQ is consistently above its 10 week average.
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