Posted Tuesday, December 30, 2008 @ 10:48 pm by Dr. Wish

Market still on support; GMI: 2; GMI-R: 2

The market continues to rest on support and is unwilling to tip its hand.  The GMI and GMI-R are both back to two.  This is a good time to sit on the sidelines and wait for the new year.  While the QQQQ completed the 14th day of its short term up-trend, it has moved virtually nowhere during this period (-3.7%).  How can I call this an up-trend?  Because the QQQQ has remained above its critical moving average during this period, even though the average itself has been on a slight downward slant. 

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Comments ( 1 Comment )

Thanks for the insight. I wonder: how many days is the critical moving average for QQQQ?

Jiri Novotny added these pithy words on Tue, 12-30-08 at 3:37 am

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