51st day of $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

53%

GMI back to 6, but I remain cautious.

50th day of $QQQ short term up-trend

GMI

5/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

55%

Long term trend of QQQ remains up in a Stage 2 advance.  Short term up-trend is getting tired. Since 2006, only 9 of the 54 short-term up-trends of the QQQ have lasted longer than 50 days. After earnings season we will enter the dreaded September/October period.

49th day of $QQQ short term up-trend

GMI

5/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

53%

With AAPL down in the after-market after posting solid earnings, this short term up-trend may be becoming a little old.  This is not the time for me to add new positions in my trading accounts.

48th day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

49%

AAPL reports earnings today after close.

GMI still on buy signal from April 22

GMI

5/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

51%

It was great to see many of you at Saturday’s  AAII workshop.  Friday was 47th day of current $QQQ short term up-trend.  IBD still sees “uptrend under pressure.”

This weekly chart shows that QQQ remains in a strong Stage 2 up-trend, however. Click on chart to enlarge.

QQQwkly07182014

GMI07182014

This decline is different

GMI

4/6

GMI-2

4/8

What is the GMI?
 

WORDEN T2108

43%

I had been moving up my stops to protect my profits and have been stopped out of all positions in my trading accounts.  Break-outs have been failing and growth stocks are faltering.  T2108 is way down to a level not seen since last April.

T210807172014

I am very cautious.  The world news may be a distraction from the real underlying technical weakness in this market. At 46 days, the current QQQ short term up-trend is getting old. Since 2006, 79% of short term QQQ up-trends have ended in fewer than 50 days. Another weak day could easily send the GMI below the critical 3 level.

45th day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

54%

See you Saturday at the workshop?

44th day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

54%

Watching AAPL as it approaches top 15.2 daily Bollinger Band, currently at 97.73:

AAPL07152014

43rd day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

60%

QQQ approaching top Bollinger Band (96.41) again.

QQQ07142014

42nd day of $QQQ short term up-trend; DC AAII work-shop July 19

GMI

5/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

56%

Next Saturday, Dr. Alan Ellman and I will be doing an AAII work-shop in Virginia.  I hope to see you there.

Meanwhile, GMI is at 5 (of 6) and still on a Buy signal.

GMI07112014



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