16th day of QQQ short term up-trend; AAPL weighs on QQQ
With the large AAPL post-earnings decline (-12.4%), the QQQ has weakened (see daily chart below) and the more sensitive GMI-2 is now at 3. The QQQ has been flat since the New Year pop. With the T2108 at 84, I am a little more cautious than I would be with the GMI still at 6 (of 6). Some of the air came out of ONVO on Thursday and I bought back some of my shares at a lower price than I sold them earlier in the week. AAPL remains in a Weinstein Stage 4 down-trend and should have been sold long ago, as I had written months ago.
Comments ( 6 )
Andy added these pithy words on Fri, 1-25-13 at 9:30 amHi Eric,
I would like to first say Thank you for your daily blogs, this site is one of my routine stops daily before market opens. I find that you are very knowledgable, analytical and I appreciate your work very much. I was wondering as T2108 is moving ever closer to 90% each day, do you think its a good idea to get into Gold as prices has come down a bit recently from all time highs.
Thank you for comments.
Andrew
mark added these pithy words on Fri, 1-25-13 at 7:58 pm/andy, what a strategy… first butter him up, then ask for advice!!
kareti added these pithy words on Fri, 1-25-13 at 9:01 pmwhat is Weinstein Stage 4 down-trend? thanks, K.
Andy added these pithy words on Sat, 1-26-13 at 12:37 am/Mark, No, thats not it. I have a genuine belief that knowledge is very valuable. Without reading Erics daily updates, I think I would be less educated daily.
chris added these pithy words on Sat, 1-26-13 at 11:37 amMarket is creating a huge Trap that is drawing dumb money in to the market.
Peter added these pithy words on Fri, 2-1-13 at 2:15 pm@kareti,
http://www.tradersnarrative.com/get-stan-weinsteins-global-trend-alert-for-free-736.html
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