While the GMI fell to 4 (of 6) and the GMI-R, to 8 (of 10), the QQQQ remains in long and short term up-trends. See the weekly GMMA chart of the QQQQ below. All short term averages (red) are above the longer term averages (blue). The T2108 has fallen to 77%, now out of overbought territory, but could be signaling a move down. I am a little defensive and will not add to positions for now. We must keep an eye on the tech leaders (GOOG, AAPL) to gauge the health of the market. Both of these stocks remain in up-trends. The election results and the year end rally are possible catalysts for a continuation of the up-trend.
