The GMI and GMI-R each rose to 1. Tuesday was the third day in the current QQQQ short term down-trend. It will take a lot more time to determine whether Tuesday’s rise was the beginning of a real turn in the markets. For now the QQQQ down-trend (as well as that of the DIA, SPY and IJR) remains intact. I remain mainly in cash and short through the QID.
it would seem we should rally for another day or two before a retest. I’ll be looking to do some more buying then. However, no guarrantee this has to happen just like that … but it usually does for panic selloffs.