Archive for the ‘ General Market Index (GMI) table ’ Category
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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 […]
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 […]
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 […]
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).
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]