GMI:2; GMI-R:2; First day of new QQQQ down-trend; Rise into earnings?

The GMI and the GMI-R are at 2.  Thursday was the first day in a new QQQQ short term down-trend.  And yet the Worden T2108 indicator rose from 36% to 39%. And the percentage of the Nasdaq 100 stocks that closed above their 30 day averages rose from 30% to 32%.  While there were 394 new lows in my universe of 4,000 stocks, there were also 68 new highs.  With all of the bearishness and talk of recession by the pundits, maybe we will get an earnings release bounce later in January.  This is not the time for me to go short, and I am instead nibbling at a few stocks that appear to be gaining support. I place a close sell stop as soon as I take a position.  The key to success is to take many small losses and a few large profits.

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