QQQ short term up-trend in jeopardy; mainly in cash

GMI2/6
GMI-20/8
T210851%

I closed out most long positions on Tuesday and took up some small short positions in SPY and QQQ.   The GMI declined to 2 (of 6). Another weak day will likely yield a GMI sell signal at Wednesday’s close.   The QQQ is firmly below its 30 week average and now its 30 day average. Many of the leaders I watch have hit air pockets and fallen quickly, including CMG, ISRG, TDG, NVR, and now maybe AAPL.   This is the time for me to move to the sidelines in my trading accounts except for a few shorts.

My university pension remains invested in mutual funds for now. If the 30 week averages of the indexes should curve down into a Stage 4 decline, I will begin transferring out of mutual funds and into money market funds. It is premature for me to do that now.

2 thoughts on “QQQ short term up-trend in jeopardy; mainly in cash”

  1. If GMI will “likely” give a sell signal on Wednesday, then why did you sell on Tuesday? In other words, you don’t follow the signal, you lead the signal.

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