Day one of new QQQ short term down-trend; AAPL green line chart

GMI3/6
GMI-24/8
T210865%

I am much more comfortable with   a change in trend when it reaches 5 days.   However, given the weakness we have experienced the past few days, I went to cash in my trading accounts.   Several of my green line break-outs have failed, not a good sign.   I am content to wait for the market to clearly show me which way to trade. The GMI is now at 3.   It would have to be less than 3 for two days to provide a sell signal. So my long term pension accounts remain fully invested. IBD still sees the market in an up-trend.

The MarketWatch contest people published my article on green line chats without the chart!   Below is the AAPL chart I was referring to in my submission.   Please vote for my column by clicking here and selecting “like.”

1 thought on “Day one of new QQQ short term down-trend; AAPL green line chart”

  1. Good luck on the MarketWatch contest!

    Yesterday you said a decline in the QQQ would trigger a short-term downtrend in the QQQ. It did decline and you indicated today that a new short-term downtrend had begun in the QQQ. What was the specific threshold that the QQQ had to cross for this to happen?

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