Archive for the ‘ General Market Index (GMI) table ’ Category
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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 […]
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 […]
The GMI remains on a Sell signal and I remain largely in cash and hedged. I do hold a few biotech stocks, see discussion below. This market is rebounding from a high volume decline. It remains to be seen whether this rebound will retake prior peaks or falter somewhere before. This week is very critical […]
The GMI now registers 1 and flashed a Sell signal as of Friday’s close and my QQQ short term trend has turned down. Sometimes these changes in short term trend do not persist for more than a day or two, so I watch the market action very closely. There are a lot of other technical […]
There are some very curious statistics tied to the current market. At a time when the SPY, and DIA are near new all-time highs, the measures of the market internals are weak. For example, why is the T2108 only at 40%? This means that only 40% of NYSE stocks closed Friday above their 40 day […]
The excitement about Apple and Alibaba may be diverting attention from the general market’s weakening. The Worden T2108 Indicator, the percentage of all NYSE stocks that closed above their simple 40 day average price has peaked again and started down. Look at this weekly chart of the T2108 (click on to enlarge): T2108 has peaked […]
OILT came up on my TC2000 scan for rockets bouncing off of their 10 week average. When I looked at it, it appears to have broken out of a cup and handle base on Thursday on unusually high volume. Check out this daily chart: OILT closed Friday right at the pivot point. If I bought […]
One of the best areas of support for a rising stock is its 10 week moving average. A lot of rocket stocks rest there and then resume their rise. I created a new TC2000 scan that scans over 6,000 U.S. stocks for a strong rocket pattern and a bounce up off of the stock’s ten […]
I wrote in In 2009, after many of the stocks that he had advocated had fallen, that Jim Cramer had finally got religion and embraced technical analysis. For many prior shows he had called chartists “morons.” He learned the hard way that buying good companies during a bear market was foolish. Hence his new found […]
It is very difficult for me to fly by instrument, but the GMI has just issued a Buy signal. Talk about head fakes! I am mainly in cash in my trading accounts and making small bets.