Posted Tuesday, August 31, 2010 @ 7:00 am by Dr. Wish
12th day of QQQQ short term down-trend; 23% chance it could last 30+ days
The GMI remains at 1 (of 6) and the GMI-R at 2 (of 10). The T2108 is back to 39%, still in neutral territory. Time to be in cash and or short. I reviewed the statistics on the past 24 short term down-trends for the QQQQ. I found that once a down-trend lasted at least 11 days, there was a 54% chance it would last 21 days or more, and a 23% chance it would last more than 30 days. The longest short term down-trend during this period lasted 69 days.
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