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The technical signal that got me out of the market in 2000 and 2008 was when QQQ closed below its 30 week average and that average curved down. That is obviously not the case right now. I sometimes have to grit my teeth, hold my breath and follow the trend shown in my charts. If the 4wk average turns up and climbs back above the 10wk average the market will be in great shape. A strong advance has weekly averages lined up with 4wk>10wk>30wk, as was the case last May. But the Iran war events could upset everything again. Stay tuned……

This has been an an incredibly difficult market in which to trade profitably.  New short term up-trends often fail within 5 days. If this new up-trend can get past 5 days, we might see a significant tradable rise. The GMI is still Red but could turn Green on Thursday.  Watch to see whether QQQ can continue to close above all of these 12 averages. Dotted line shows daily closes.