Posted Tuesday, December 23, 2008 @ 8:47 am by Dr. Wish
QQQQ short term up-trend still in peril; GMI: 2; GMI-R: 3
The QQQQ short term up-trend completed its 10th day on Monday. But it is right on the critical 30 day moving average (28.91). I remain in a few long positions, but am ready to throw things into reverse if the market turns down. We remain in a major long term down-trend and any counter trend rally can quickly fail. There were 5 new highs and 72 new lows in my universe of 4,000 stocks on Monday. The last time we had more new highs than lows was September 19.
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Comments ( 2 )
dave added these pithy words on Tue, 12-23-08 at 3:50 pmThanks Dr Wish.
Have a good Christmas.
Joseph added these pithy words on Wed, 12-24-08 at 6:04 pmDr. Wish,
Your Christmas to us has been the sharing of YOUR blog and ideas. We thank you and wish you and family a Merry Christmas and Happy New Year 2009.
Joseph and Jason.
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