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Oct 23.14 / Dr. Wish
20th day of $QQQ short term down-trend

The QQQ short term trend could turn up on Friday.  More important, QQQ and SPY are now back above their 30 week averages.

Oct 22.14 / Dr. Wish
Indexes meet resistance; 19th day of $QQQ short term down-trend

The SPY and QQQ both hit a wall at their 30 day averages on Wednesday.  The key for me is whether they can close above this key average or head back down.  Check out this daily chart of the QQQ.  Note how the QQQ could not break above its 30 day average (red line). If […]

Oct 21.14 / Dr. Wish
IBD: correction over; 18th day of $QQQ short term down-trend

IBD says Tuesday was a follow through day and marked the end of the correction. I will wait for the GMI to turn positive before I re-enter the market. I still do not trust this rebound yet.

Oct 20.14 / Dr. Wish
17th day of $QQQ short term down-trend; SPY still a broken up-trend

Rebound continues, but for how long? Look at this daily chart of the SPY. SPY is way below the long term trend line (blue line) that it recently broke. We now have a lower bottom.  Will we get a lower top?  Stay tuned…….

Oct 19.14 / Dr. Wish
16th day of $QQQ short term down-trend; Bottom or dead cat bounce? Keeping an eye on the $BABY

The sharp rise on Friday came from very over-sold levels. Given that the market often is strong towards the end of the year, I would not be surprised to see a rise that takes us through mid-January. But with people being worried by  Ebola and the Fed’s cessation of QE , this market could resume […]

Oct 16.14 / Dr. Wish
15th day of $QQQ short term down-trend; skeptical of rally

The Worden T2108 has held and  is now back to 20%. It is very important to study carefully the quality of the next rebound.  I suspect the rebound will not break the current down-trend and that the decline will resume with a vengeance.  If the major indicators rebound to their 30 week averages, I will […]

Oct 15.14 / Dr. Wish
14th day of $QQQ short term down-trend; the current mini-decline

Isn’t it nice to be in cash on the sidelines during this decline?  The GMI issued its Sell signal on 9/26.  All of the pundits are rushing to explain the decline by things happening now.  However, the GMI picked up on a decline long before these events.  One must follow the market, not the news. […]

Oct 14.14 / Dr. Wish
13th day of $QQQ short term down-trend;17 green line break-out stocks

The GMI actually registered ’0′ on Monday, but I missed it.  The QQQ has closed below its 30 week average now for two days. Since 9/26 when the GMI issued a Sell signal, the QQQ has declined -5.9%.  The SPY is down -5.2% and the DIA is down -4.5%.  Meanwhile, SQQQ (the 3X bearish QQQ […]

Oct 13.14 / Dr. Wish
12th day of $QQQ short term down-trend

Sorry I posted late yesterday morning. If you missed that post about how I identify a bottom, please go back to that post. Put/call ratio=1.41, bounce coming?!

Oct 13.14 / Dr. Wish
11th day of $QQQ short term down-trend; How long will this market decline last?

If anyone tells me they know  when a market decline will end, I ignore them and run the other way.  The truth is that no one knows, except by chance, when a market will turn.  The market consists of millions of “voters” all betting on stocks using different strategies and each with their own tolerance […]

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