Posted Wednesday, March 6, 2013 @ 5:07 am by Dr. Wish

QQQ head and shoulders fails; All indicators are positive; IBD: “confirmed uptrend.”

GMI

6/6

GMI-2

6/6

What is the GMI?
 

WORDEN T2108

61%

IBD has just changed its market outlook to confirmed up-trend. With the GMI on a Buy signal since the close on February 28, I am adding long positions.  This weekly chart shows that the QQQ head and shoulders pattern failed to develop.  A lot of stocks are breaking out. With the T2108 only at 61%, this market is not extended.


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