GMI: 3; GMI-R: 6; 38th day of QQQQ down-trend

The GMI is at 3 (of 6) and the GMI-R is at 6 (of 10).  There were 83 new highs and 47 new lows in my universe of 4,000 stocks on Wednesday.  Wednesday was the 38th day of the current QQQQ down-trend.  It remains to be seen whether the short term strength of the past few days will lead to a longer term change in trend.

4 thoughts on “GMI: 3; GMI-R: 6; 38th day of QQQQ down-trend”

  1. Mr. Wish

    Your method has logic; however, by the time you decide to “jump in” to invest, most of the bull market stocks will have already gone up and you miss the initial impetus of the market turn around. So you will catch the bull half way on its run, missing half of its run up. Ain’t it so?

  2. I use Mr. Wish’s indicator and while it does lag at the bottom and the top, I think the point is to catch the meat in the middle. That said, the markets here in Canada seem to be a little stronger than the NYSE and Nasdaq, with Energy stocks leading the way.

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