General Market Index (GMI) table

GMI=1 and RED; Day 1 of $QQQ short term down-trend; 3 days in a row with more yearly lows than highs; only 21 stocks reached ATHs on Friday, QQQ now closed below 4wk avg. Be very careful.

@ 8:19 pm
GMI1/6
GMI-23/9
T210831%

If the GMI should register 0, I would exit the market in all of my accounts. Market will break out of this consolidation one way or the other, probably this week. Only oil and shipping related stocks have multiple stocks hitting ATHs. T2108 at 31% shows NYSE stocks are technically weak.

Screenshot

 

Day 18 of $QQQ short term up-trend and weekly chart below shows longer term trend remains up, thus far, unless the Iran war disrupts it. See also the GMI table.

@ 9:56 pm
GMI4/6
GMI-26/9
T210843%

It may be  hard to believe, but my indicators still show QQQ in  short term and longer term up-trends. These indicators saved me from significant declines many times. However, the weekly closes designated by the gray solid line show QQQ to be flat since the May/June peaks at all-time highs. September is typically the weakest month of the year for the markets. We may have to wait until the next earnings release period in October to break from this plateau.

The GMI is at 4, of 6, and remains on a Green signal.