Posted Thursday, September 25, 2008 @ 12:01 am by Dr. Wish
GMI: 0; GMI-R: 0; 17th day of QQQQ down-trend; Worden T2108: 19%
The GMI and GMI-R remain at zero. Wednesday was the 17th day of the current QQQQ down-trend. There were only 7 new highs and 100 new lows in my universe of 4,000 stocks on Wednesday. The Worden T2108 indicator is now at 19%, a level at which some bottoms have occurred. It is still best for me to remain on the sidelines until the GMI rises to at least 3. I try to always trade in sync with the general market trend. Since I identified the beginning of the current QQQQ down-trend on September 2nd, the QQQQ (Nasdaq 100 index) has declined 10% and 83% of the Nasdaq 100 stocks and the S&P 500 stocks have declined. Why fight these odds?
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