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

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Mar 29.15 / Dr. Wish
GMI holds; market due for 1st quarter earnings bounce?

The GMI rose to 3 on Friday (see table below), keeping the January Buy signal in place. Nevertheless, Friday marked the second day of the new QQQ short term down-trend. A good many of these short term down-trends since 2006 lasted under 5 days. I think it likely that we have finished with the customary […]

Mar 22.15 / Dr. Wish
4th day of $QQQ short term up-trend; Trading RWB break-outs

IBD says the market uptrend has resumed.  All of my GMI and GMI2 components are positive. This GMMA chart of the NASDAQ Composite index shows it to be in a strong RWB up-trend.  Note the weekly close (dotted line) is back above all of the other moving averages.     I use TC2000 to scan […]

Mar 15.15 / Dr. Wish
3rd day of $QQQ short term down-trend; small-caps out-perform

IBD still sees market up-trend under pressure. The GMI is still on a Buy signal from January, but is holding to a middle 3 our of 6.  The new QQQ short term down-trend must reach at least 5 days for me to be more confident about it. Interestingly, the IWM, Russell 2000 ETF , seems […]

Mar 08.15 / Dr. Wish
22nd day of $QQQ short term up-trend

Neither AAPL or the QQQ  or SPY appear to be in an imminent down-trend. All are in RWB up-trends–for now. And look at the dollar! This is the pattern of a peaking stock. The GMI is at 5 (of 6).

Mar 01.15 / Dr. Wish
On my use of the GMI, A Darvas type RWB rocket stock: $AMBA

Most of my readers know that using many of the indicators counted by the GMI (see box at bottom of this page) I was successfully able to stay out of the market during most of the 2000 and 2008 declines. After a bottom was in I reinvested on the long side. The GMI has a […]

Feb 22.15 / Dr. Wish
An important limitation of the GMI signals

I have found that since 2006, the GMI has done a good job of keeping me on the side of the general market trend. It is my cardinal rule to trade consistent with the market trend.  While the GMI has helped me to exit the market in prior major declines, I have discovered an important […]

Feb 16.15 / Dr. Wish
GMMA charts show no market top in sight

I read a lot of pundits who repeatedly claim that this market is topping. If they keep claiming this, someone will eventually be correct! But we technicians rely on indicators to guide our trading. We must always guard against marrying a scenario and be ready to change direction to be consistent with the market’s main […]

Feb 08.15 / Dr. Wish
3rd day of $QQQ short term up-trend; QQQ still in channel; $TMV-trading a rise in interest rates

The QQQ failed to break out of its trading channel on Friday. Interest rates rose on Friday, reflected in falling bond prices. One way to play a future rise in rates and a decline in treasury bonds is through the triple leveled 20 yr U.S. bond bearish ETF, TMV. TMV rose more than 5% on […]

Feb 01.15 / Dr. Wish
Red, White and Blue (RWB)- the rocket pattern and $GLD,$AAPL and the Dow 30; NYSE bear

I have taught my students the way I have adapted Daryl Guppy’s GMMA charting method, or Guppy Multiple Moving Average. I plot 12 weekly exponential moving average (6 shorter term averages plotted in red 3,5,8,10,12,15; and 6 longer term averages plotted in blue 30,35,40,45,50,60).  A strong upward moving pattern has the red lines all moving […]

Jan 25.15 / Dr. Wish
Fly by my gut or follow my instruments? (fasten seat-belts!) $AAPL looks strong

Every once in a while my technical indicators point one way and my gut to another.  While I have never systematically analysed how often which way was correct, I suspect it was my instruments.  The market tends to move in a direction opposite to the way my emotions point. This may be one of those […]

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