Day 1 of new QQQ short term up-trend

GMI0/6
GMI-23/8
T210833%

While Wednesday was the first day of the new QQQ short term up-trend, I normally want to see   a new trend last for 5 days before I become confident in it.   The longer term trends remain down and I am cautious about this rally’s ability to break through resistance. I would like to see the GMI rise to 4 before jumping back in on the long side.

5 thoughts on “Day 1 of new QQQ short term up-trend”

  1. Thanks for clarifying, but what I am really trying to determine is how/why you called the uptrend. One GMI is zero and the other is three, so I don’t think your call is based on the GMI. However, since you go to so much trouble to track the GMI, I would think that it would be the tool to identify the trend. It appears you are using chart reading instead – no? I suspect the higher high in QQQ.

  2. The GMI is my prime indicator for timing the market for my most conservative pension money. The short term trend is based on just the QQQ chart pattern and is used for trading my more speculative moneys.

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