Archive for the ‘ General Market Index (GMI) table ’ Category

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Feb 07.16 / Dr. Wish
Why I follow my General Market Index, GMI

It took me a long time to understand the wisdom of Nicolas Darvas and William O’Neil’s advice to always trade in synch with the overall market’s trend. I learned the hard way that the same buy set-ups and rules that worked in a rising market failed repeatedly in a declining market. That is why I […]

Jan 31.16 / Dr. Wish
19th day of $QQQ short term down-trend; $QQQ and $SPY look weak

IBD sees renewed up-trend. MY GMI and QQQ short term trend indicators are still pointing to a down-trend. For me, this rise remains a “dead cat bounce” until more of my indicators turn positive. A lot of technical resistance is just above current levels. By the way, I drew the lower horizontal line in this […]

Jan 24.16 / Dr. Wish
Table of long and inverse index ETFs; My AAII workshop in February; Trend still down–dead cat bounce?

A number of you have asked me about  inverse index ETFs so you could short the market. Below is a table that my co-instructor, David, built for the undergraduates enrolled in our stock market class. The table includes leveraged ETFs, which attempt to move 2-3 times the underlying index. Leveraged ETFs can be dangerous. It […]

Jan 18.16 / Dr. Wish
Extremely oversold readings; Two stocks fighting the down-trend: $SCAI and $SLP; Media comparisons to 2008 decline; $AAPL head and shoulders warning comes true

The T2108 closed at 9, but reached as low as around 6 intraday on Friday. T2108 is a great pendulum of the market. It is in single digits only near market lows. While it did reach around 1% in the 1987 and 2008 crashes,  most large declines have ended with T2108 around 6-7%. As I […]

Jan 10.16 / Dr. Wish
All World Stock Markets entering BWR Down-trends! I am in cash and monitoring T2108

I assume that most  U.S. part-time traders, like me, tend to monitor  closely the U.S. stock indexes. I have been writing that the major indexes I follow (DIA, QQQ, SPY and NYSE) appear to be entering major down-trends, showing the RWB pattern I invented by modifying GMMA weekly charts. My charts have 12 exponential weekly […]

Jan 03.16 / Dr. Wish
New $QQQ short term up-trend in jeopardy; Market indexes look weak; So do $AAPL,$NKE, $DIS

The GMI remains on a Sell signal even as my short term trend indicator for the QQQ is in the second day (U-2) of an up-trend. A down day on Monday could change the short term trend for the QQQ back to down. The QQQ and SPY have now closed below their critical 10 week […]

Dec 27.15 / Dr. Wish
11th day of $QQQ short term down-trend; on sidelines

This week it will be very difficult to get an idea of the market’s near term trend. There may be some strength from mutual fund end of quarter/year window dressing. But the QQQ short term trend count is D-11 and the GMI remains on a Sell signal. IBD calls the market up-trend under pressure. The […]

Dec 20.15 / Dr. Wish
7th day of $QQQ short term down-trend; 100% in cash

The GMI remains on a Sell signal and I am 100% in cash.  The major indexes are in Stage IV Weinstein down-trends. I see no reason to be in this market except on the short side. But the holiday season is a nice time to just take a break from trading. The NYSE is in […]

Dec 13.15 / Dr. Wish
2nd day of $QQQ short term down-trend; market bounce and $AAPL H+S top likely

With the major indexes so oversold, it is very possible that they will bounce on Monday. IBD  reports that the put/call ratio was 1.19 on Friday, showing extreme bearishness among option traders, and at a level at which bounces typically occur. Given the Fed meeting this week, we could get a situation where people have […]

Dec 06.15 / Dr. Wish
44th day of $QQQ short term up-trend; $HELE–GLB; Financial exchanges strong

HELE has been a super rocket stock since 2010. This weekly chart shows that HELE has resumed its strong RWB pattern after coming out of a base in October. HELE gapped up and broke above its green line top to an all-time high on huge volume on October 9.  It has  retested its GLB several […]

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