Archive for the ‘ General Market Index (GMI) table ’ Category
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Wouldn’t you know that the extreme market action would occur just after I went on vacation? I was not surprised by the down market last Monday. When stocks have a bad week and end on a down note on Friday, people get scared over the weekend and sell on Monday morning. The depth of the […]
The GMI still is on a Buy signal, but I am content to wait this market out. Note that HD had a green line break-out (GLB) to an all-time high last week. HD reports earnings this Tuesday.
With the GMI at 2, if Monday brings another weak day, the GMI will issue a Sell signal. I do not remember a time when the GMI was so unstable. I am therefore in cash in my trading accounts and on the sidelines.
This is one of those times when my emotions tell me to flee but my instruments say buy or hold. The GMI has again flashed a Buy signal. My very short term trend count for the QQQ is U-14, 14th day of an up-trend. The SPY has retaken its 30 week average along with the […]
Over the past year I have been whip-sawed by stocks, with my trading account value going to all-time highs and then giving back the advance. I recently became so tired of the market roller coaster that I took a vacation from the market and went to the sidelines. So I missed the recent bounce and […]
In reviewing my market statistics this weekend, I was surprised by what I learned. With the Nasdaq 100 (QQQ) streaming to an all-time high last week I expected to see strength in my measures of how individual stocks had performed. The QQQ closed up 5.5% last week to an all-time high. But the SPY (+2.4%) […]
The famous J.P. Morgan, when asked what the market will do, responded with, “It will fluctuate.” Today we use the euphemistic term, volatility. Mr. market is driven today by extreme news events coming out of Greece and China. Do we really believe the Chinese government can permanently kill a panicked bear by suspending trading in […]
IBD says put/call ratio Monday was 1.24. Bounces usually come from this level. I am mainly in cash in my trading accounts. I forgot to post this table on Sunday night: But this is history. The GMI is now 1 (revised after IBD released mutual fund index) and another day below 3 will signal a […]
IBD has now called the market up-trend under pressure and the QQQ short term trend could turn down with a weak or flat day on Monday. I reduced my long positions on Friday with the imminent end of mutual fund window dressing on Tuesday with the end of the second quarter. Too many stocks appeared […]
I meant to post this table on Monday. By the way, Judy reminded me that she also likes DIS as a Star Wars play.