I remain cautious. The QQQ is still in a short term down-trend, but the DIA is showing some strength. The tech stocks are simply weak right now. Some of the growth leaders I track are showing strength: BIDU, NFLX, PCLN, AZO. The longer term trend of the market remains up, and I am waiting for signs that the current short term down-trend is ending.
Does this mean that it is a good time to buy long, then?
I need the GMI to get to 4 to begin going long. I also want to see a short term up-trend in the QQQ.