The market continues to rest on support and is unwilling to tip its hand. The GMI and GMI-R are both back to two. This is a good time to sit on the sidelines and wait for the new year. While the QQQQ completed the 14th day of its short term up-trend, it has moved virtually nowhere during this period (-3.7%). How can I call this an up-trend? Because the QQQQ has remained above its critical moving average during this period, even though the average itself has been on a slight downward slant.
Thanks for the insight. I wonder: how many days is the critical moving average for QQQQ?