An up day on Monday could trigger a GMI Buy signal.  I prefer to wait on the sidelines.  Some of my hourly indicators suggest to me that the DIA, QQQ and SPY could retreat Monday from their recent bounce peaks.  But if they hold, the market trend will turn up again.  I remain very skeptical […]

Check out this link about the possible head and shoulders top in the tech stocks.  I wrote about this possibility several days ago. When I have this much company I fear it will not happen. I still do not trust this bounce.

I remain on the sidelines.

Yet another bounce!

I am in cash on the sidelines in my trading accounts.

Let’s see how far this bounce can go.

I am on sidelines, in cash in my trading accounts.

GMI has flashed a Sell signal.

I have been posting for a while that the tech stocks were weak,  as reflected in the QQQ, even as the large cap stocks in the SPY and DIA remained strong. My short term trend count on the QQQ reached the 10th day of its down-trend on Friday.  I noted in my Thursday night post […]

The QQQ failed to hold its critical 30 day average on Thursday.  Its short term down-trend remains intact. There is still a divergence between the QQQ and the SPY and DIA. We will know soon which group is leading the market.