Blog Post: Day 9 of $QQQ short term down-trend; 21 US new highs, 79 lows and 4 at ATH; I am 100% cash; My adapted GMMA daily charts tell the short term story; when the RWB pattern disappears, I exit; see example charts of $QQQ,$DIA,$SPY,$NVDA,$TSLA

GMI1/6
GMI-21/9
T210822%

My adapted daily GUPPY, GMMA charts tell me when an up-trend has ended. My former student, Richard Moglen, tells how to build them using TC2000. As long as the shorter term (red) averages are rising above the longer term (blue) averages with a white space separating them, RWB, the up-trend is intact. When the white space disappears it is time for me to raise stops and/or exit. When the pattern reverses to BWR, I am out or short, see TSLA. The dotted line is the daily close. Check out these charts. A picture is worth how many $$$$?

Screenshot
Screenshot
Screenshot
Screenshot
Screenshot

Blog Post: GMI turns RED; Day 6 of $QQQ short term down-trend; only 28% of NASDAQ 100 stocks closed above their 50 day averages; cash is king!

GMI2/6
GMI-21/9
T210828%

QQQ has broken below its recent support level on above average volume. DIA and SPY are equally weak. Support may be around 405 or the green line at 408. This is the time for me to be on the sidelines in my trading accounts. The longer term trend remains up but the GMI has turned RED. If the GMI hits zero, I will begin to transfer my conservative retirement funds from mutual funds into money market funds.

Screenshot

Blog Post: Day 6 of $QQQ short term down-trend; GMI=2; Will earnings save this market?

GMI2/6
GMI-22/9
T210833%

As I indicated in a tweet, @wishingwealth, intraday last Friday, I went to cash in my trading account. Too many breakouts have failed. GLD looked like it had experienced a high volume reversal. SPY and QQQ have now closed below their 10 week averages. Another weak day will turn the GMI to Red. I will wait to see if we get a strong earnings related bounce this week. This market is not acting well enough for me to take on long positions. Sell in May is almost upon us.

Screenshot