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13th day of QQQ short term up-trend

GMI6
GMI-26
T210877%

My indicators remain positive and I am 100% invested in mutual funds in my university pension account. I am gradually accumulating long positions in my trading accounts. The GMI is at 5 and and the GMI-2 is at 6 (of 6).   The GMI gave a buy signal on December 23rd and is still in place. The following 12 stocks passed my TC2000 scan of hitting new 52 week highs on Friday and having solid fundamentals:   SMP,CMG,CCU,RGR,WPZ,RYN,PNRA,FAST,NGLS,M,USB,PETM. All but M and USB are at all-time highs.   Some of these may be worth researching.

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12th Day of QQQ short term up-trend

GMI6
GMI-26
T210880%

T2108 breaks 80%, in overbought territory, and about one half of Nasdaq 100 and Dow 30 stocks have an overbought stochastics reading. Still, the GMI buy signal of 12/23 remains firmly in place. Among the   17 stocks hitting a new high on Thursday and having very good fundamentals are: NEU, ADS, ARG, DCI, PETM, SBUX, HIBB, FAST, FEIC,CRMT, WYN,GNRC.   All are at all-time highs.

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11th day of QQQ short term up-trend; Leveraged ETF’s outperform yet again.

GMI5
GMI-26
T210879%

Up-trend continues. The GMI buy signal of December 23rd is still in place. Since 12/23, the QQQ has advanced +3.7%, the QLD by +7.5% and the TYH by +9.1%.   AAPL has risen +4.8%.   Among the S%P 500 stocks, only 15% have risen 7% or more.   In an up-trend it still works better to just buy the leveraged ETF than to search for the minority of stocks that will outperform it.

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Sentiment figures reaching extremely bullish levels

GMI6
GMI-26
T210879%

I monitor the Worden T2108 Indicator and the Investors Intelligence poll to assess if the market has reached an extreme level of bearishness or bullishness.   The T2108 closed Tuesday at 79%.   This is close to the level where prior market rallies have topped out.   Similarly, far more advisers are bullish than bearish (49.5% vs. 30.5%). This is a contrary indicator.   The market is likely to top out when there are many more bulls than bears. The weekly chart below demonstrates that at 79%, the T2108 is near its peak level. Click on chart to enlarge.

The sentiment indicators suggest to me that I need to raise stops or hedge my long positions in my trading account so I do not lose all of my recently generated gains.

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8th day of QQQ short term up-trend; GLD rebound over?

GMI6
GMI-25
T210870%

On December 23rd, the GMI flashed a buy signal.   I remain invested long in my university pension and hold several long positions in my trading accounts.   AAPL has helped to drive the Nasdaq 100 index (QQQ) higher.   GLD may be reaching the end of its rebound from oversold levels.   With its stochastic at 89, I am looking for signs of a reversal before I short GLD.

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