The GMI is now 5 and the trend is up. I am accumulating QLD and writing covered calls on IBD100 stocks.
Stock Market Technical Indicators & Analysis
The GMI is now 5 and the trend is up. I am accumulating QLD and writing covered calls on IBD100 stocks.
I like your methods… but I have to disagree here. I think this is going to be a whipsaw period. I wonder if there’s some other kind of indicator to create that might prevent the whipsawing…
One indicator I look at a lot — total new highs / new lows has been real lousy. I notice #2 on your list is a NO.
Do you equally weight all your indicators? Because I think seeing a lot of new highs is a critical part of a bull market. Instead, all we’re seeing is VERY narrow leadership concentrated in the QQQQs which comprises 2 of your indicators. This seems to me to be hedgefunds focusing on a narrow ‘safehaven’ bubble which won’t last long.
I remain in the ‘O’ camp but I haven’t established any real long or short positions because of volatility. These are dangerous times, I think. Good luck with your investments.