Author Archive for Dr. Wish
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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.
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…….
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 […]
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 […]
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. […]
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 […]
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?!
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 […]
SPY and DIA have both closed below their critical 30 week averages. Is QQQ next to fall?
IBD stills sees market in correction and the GMI remains on a Sell signal. I did close out my position in calls on QID on Wednesday.