The QQQQ short term decline completed its 9th day on Friday.  Both the S&P500 Index ETF (SPY) and the Nasdaq 100 Index ETF (QQQQ) have closed below their 10 week averages.  IBD continues to designate the market to be in a correction. I am safely out of the market, in cash in my trading IRA.  [...]

I have replaced the GMI-R that combined the 6 indicators from the GMI with 4 additional indicator. The new GMI2 contains the 4 indicators from the GMI-R and adds two additional indicators.  The GMI and the GMI2 will each count 6 different indicators.  I have GMI statistics for several years and have found it to [...]

It looks like the short term trend of the QQQQ may turn up again. If the index holds on Monday, I will resume the short term up-trend count.  A lot of stocks appeared to bounce off of support last week.  NOG retraced to support and then broke again to a new high.  The following stocks [...]

I did not post Friday’s stats because the market was closed on Monday.  So, today I publish the full General Market Index (GMI) table, that I usually post on Monday morning.  The one statistic I want to mention from Friday, was the the Worden T2108 Indicator, which reached 75% on Friday.  That means that 75% [...]

As my regular readers know, each Monday morning I post a table containing the components of my General Market Indicator (GMI) and my revised GMI-R.  These indicators track short and long trends in the market and keep me on the right side of the trend.  All of the major  traders I respect (Darvas, Livermore, O’Neil) [...]

I am reprinting below some of my writings from a few years ago in order to give my new students some understanding of my approach to the market. “it is utterly useless for us on the outside, who buy and sell comparatively small blocks of stock, to conjecture about what “they” are doing.  We cannot [...]

I noticed over the weekend the incredibly weak price trend of just about all stocks and ETF’s  that are related to India.  I learned a long time ago that when the U.S. Federal Reserve raises interest rates to combat inflation, it eventually leads to a  market decline.  When the Fed thinks that the economy is [...]

The long and short term trends of the market indexes remain up.  The SPY and QQQQ ETF’s have closed above their 10 week averages for 18 weeks. The Worden T2108 indicator is in neutral territory, at 64%. Should be an interesting week for tech stocks if Verizon makes the expected announcement regarding adoption of the [...]

There was weakness in the leaders on Friday with all nine stocks declining, and five of them have closed below their 30 day averages.  Only 28 of the Nasdaq 100 stocks rose.  Furthermore, only 27 of the Nasdaq 100 stocks closed with their MACD above its signal line, reflecting short term weakness.  Nevertheless, the short [...]

Chances are we might have some more strength in the leaders of the past year, as mutual funds close out their 4th quarter portfolios.  The funds want to hold winners and shed the losers. Thursday was the 24th day of the current QQQQ short term up-trend. As this weekly GMMA chart of the QQQQ shows, [...]