GMI back to 2; IBD says market in correction
The end of day drop in the averages brought the GMI down to 2 and the T2108 to 49%. Monday was the third day of the new QQQ short term down-trend. IBD now sees the market in a correction. One more weak day will cause the GMI to flash a sell signal. Time for me to be in cash or short.
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[...] 296 Posted Tuesday, February 26, 2013 @ 7:00 am by Dr. Wish IBD says market in correction The end of day drop in the averages brought the GMI down to 2 and the T2108 to 49%. Monday was the third day of the new QQQ short term down-trend. IBD now sees the market in a correction. One more weak day will cause the GMI to flash a sell signal. Time for me to be in cash or short. Market up 40 points since IBD made the call. Some correction! GMI back to 2; IBD says market in correction | Wishing Wealth Blog [...]
Cadbury and More.....Q1, 2013 - Page 4 added these pithy words on Tue, 3-5-13 at 4:29 pmDr. Wish added these pithy words on Wed, 3-6-13 at 4:52 amIt is rare that I get so many quick changes in the GMI. I generally get in and out of the market in stages. When I get back in, I buy a stock breaking out rather than getting back into a stock I exited. If I exited a stock it is likely because it broke support. I would only reenter if it gave a new buy signal. Thus I look at the GMI for the major market trend and then trade the pattern of the individual stock. However, when I trade the index ETFs, I follow the GMI and short term trend signals more directly.
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