Hope to be back up by the weekend–my laptop died.
With oil related stocks weakening (XOM, CME, LUFK), this market could rebound soon. Still, indicators are weak but not convincingly bearish. A decline tomorrow would be significant to my indicators. Good time to stay away from this market until it develops a trend.
GMI decreased one yesterday because there were only 85 successful 10 day highs. The two daily indexes will turn negative tonight if the QQQQ/SPY ETF’s close weak today. Note that only 23% of the stocks in my universe of 4,000 are in a short term up-trend. We are at a critical point in determining whether this decline will end shortly or turn into something bigger. This in not the time to place large bets.
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