Dropping $QQQ short term trend count

GMI

5/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

49%

You may have noticed that during the time my GMI based signal has been on a “Buy” since May 11, my short term trend indicator for the QQQ has triggered several buy and sell signals. These short term signals encouraged me to get out of the market or reduce my holdings in my trading accounts only to see the short term trend reverse back up after a few days. I have therefore decided to stop posting and heeding my short term trend indicator and to rely instead on my GMI signals. I will merely follow the longer term trends measured by the GMI components.

$CYBR holds green line break-out

GMI

4/6

GMI-2

5/8

What is the GMI?
 

WORDEN T2108

40%

CYBR06172015

2nd day of $QQQ short term down-trend

GMI

4/6

GMI-2

4/8

What is the GMI?
 

WORDEN T2108

39%

Bounce is holding thus far but beware the Fed.

Market indexes bounce but 1st day of new $QQQ short term down-trend

GMI

4/6

GMI-2

4/8

What is the GMI?
 

WORDEN T2108

40%

IBD still sees the market in a confirmed up-trend. I do not trust this new QQQ short term down-trend, after the indexes found support on Monday.  A lot of the growth stocks I trade  climbed on Monday, including IMAX, CYBR, TASR, SYNA, REGN, SWKS. The longer term trends remain up. I am encouraged to tiptoe back into this market.

Market on the edge; watching $LOGM and $SYNA

GMI

6/6

GMI-2

3/8

What is the GMI?
 

WORDEN T2108

40%

The $QQQ short term up-trend could reverse down Monday with a weak day–after only 2 days of an up-trend! The prior short term down-trend lasted only 3 days.  This is a schizoid market. The GMI is at 6 (of 6) but the more sensitive GMI2 is at 3 (of 8).  This week may tell the story of whether we will have the June swoon. I have reduced my long positions in my trading accounts. I remain a chicken…..

GMI06122015But I am always looking for strong stocks in case the market strengthens. I am keeping an eye on LOGM, which may have finished consolidating Friday after its big gap up on 4/29. LOGM is another stock that Judy has talked to me about.

LOGM05142015SYNA is another stock I am watching after its recent green line break-out to an all-time high.

SYNA06142015

 

 

Back to $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

42%

This bounce looks weak to me but the GMI is back to 6.  I am still somewhat skeptical. I do not trust changes in the short term trend until they last 5 days. The short term down-trend that just ended lasted only 3 days. Longer term up-trend remains in place.

3rd day of $QQQ short term down-trend

GMI

4/6

GMI-2

4/8

What is the GMI?
 

WORDEN T2108

40%

A lot of stocks bounced from oversold on Wednesday. Another up or flat day will change the QQQ short term trend  to an up-trend. The longer term trend remains up. Interest rates continue to rise.

2nd day of $QQQ short term down-trend; $TLT falling as interest rates rise

GMI

4/6

GMI-2

3/8

What is the GMI?
 

WORDEN T2108

32%

Indexes are oversold and should bounce.  However, P/C ratio is only  .89.  This market may have to decline further. Bonds are in a free fall as interest rates move higher. Check out the 20 year treasury bond ETF, TLT.

TLT06092015

New $QQQ short term down-trend; June swoon?

GMI

3/6

GMI-2

3/8

What is the GMI?
 

WORDEN T2108

34%

I noticed that the QQQ short term trend was turning down on Monday and so I sold some positions and hedged others with put options. We are in the period when earnings are mainly out and we often see a decline until 2nd quarter is over and earnings begin to come out in early July. IBD still sees market in confirmed up-trend.

19th day of $QQQ short term up-trend; $CYBR may break-out, $HACK has

GMI

5/6

GMI-2

5/8

What is the GMI?
 

WORDEN T2108

37%

I am very interested in stocks that come public, form a base and then break to new highs. CYBR is getting close to breaking out. It is close to a green line break-out. It may even be completing a cup and handle base, as seen in this weekly chart. With so many hacking events hitting the news, it may mean good business for cyber-security firms. Judy has been talking about CYBR for some time.

CYBR05052015As an alternative to single stocks, there is a new ETF for cyber-security firms, HACK. HACK had a strong week last week.

HACK06052015

The GMI remains strong and the longer term up-trend remains intact. But note that the SPY has closed below its 10 week average. Tech stocks are outperforming. Will SPY or QQQ lead the market?

GMI06052015

 



© Copyright 2015 Wishing Wealth Blog . Thanks for visiting!