29th day of $QQQ short term up-trend

GMI

6/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

59%

28th day of $QQQ short term up-trend; $NVAX and avian flu in Canada

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

62%

Keeping an eye on NVAX, now that bird flu is picking up in Canada. Judy told me about NVAX years ago.

NVAXdaily12032014

27th day of $QQQ short term up-trend

GMI

6/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

60%

26th day of $QQQ short term up-trend

GMI

6/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

57%

QQQ had a down day with the highest daily trading volume since 10/31. Let’s see if it can do 2 in a row.

25th day of $QQQ short term up-trend; Warning signs appear

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

64%

A few warnings signs flashed on Friday.  While 82% of the Nasdaq 100 stocks rose, only 31% of all U.S. stocks rose.  As I tweeted during the day, the Worden T2108 fell on Friday in the midst of the rise in techs and was a cause for concern.  (My rare tweets can be followed: @WishingWealth) .  Another ominous signal was the way the QQQ traded above its upper BB. See this daily chart.

QQQdaily11282014Since the bottom on 10/16, there have been no periods with two consecutive down days. And the QQQ rose on 8 of the last 10 days. It doesn’t get much better than this for the bulls. I suspect we could have a decline back to the lower BB, around 101, this week. And then we might not.  To protect myself, I bought some insurance in the form of December call options on SQQQ.  SQQQ aims to rise 3X as much as QQQ declines. This option position will serve to hedge my long positions. And if my stocks rise and the calls expire worthless I will be very happy.  Who frets about paying home insurance when at the end of the year their home did not burn down! Was the insurance wasted money?

The GMI remains at a strong 6 (of 6).GMI11272014rev

 

 

24th day of $QQQ short term up-trend; T2108 extended

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

70%

T2108 is getting close to the top of its usual range.  Market getting very extended. Check out this weekly chart.

T210811262014

 

23rd day of $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

69%

Happy Thanksgiving!

22nd day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

69%

QQQ held on Monday.

21st day of $QQQ up-trend; indexes may be over-extended

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

68%

The three market index ETFs I follow (DIA, QQQ, SPY) all opened outside of their upper daily 15.2 Bollinger Bands and closed back below them. This may represent extremely over-bought conditions. A down day on Monday would likely indicate some retracement of the recent rally will take place. I am therefore very cautious about the immediate continuation of the rally. Check out this daily chart of the QQQ.

QQQBB11222014

Nevertheless the GMI remains at 6 (of 6).

GMI11212014

 

 

20th day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

66%



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