11th day of QQQ short term down-trend; bull becoming tired

GMI1/6
GMI-20/8
T210850%

I am short (own SQQQ) or in cash in my trading accounts. The GMI has issued a Sell signal. The GMI2 is at 0, indicating short term technical weakness. The weakness in the leaders is a bad omen for the general market, and after three years, this bull market is showing its age.   Since the   end of March, 2009, the Dow 30 index has advanced +75%,   the Nasdaq 100 +117% and the S&P500   +79%.   What more can we ask for in a bull move?! Check out this monthly chart of the S&P500 index.

3 thoughts on “11th day of QQQ short term down-trend; bull becoming tired”

  1. Dr. Wish:

    would you please tell us what you do with your conservative account (pension mutual funds), because most of us have 401K that can’t be traded often.
    thanks

  2. Dr. Wish – If you look at the monthly S&P 500 the 50 MA is at the 200 MA – the first occurrence, if it goes negative, with the TC2000 data (my chart goes back to 1971 or so, a negative crossover on a monthly basis, 50 MA dips below the 200 MA).

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