GMI and GMI-2 holding at 4; Stage 2 up-trend continues

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It’s nice to be back.   The GMI Buy signal remains in effect.   IBD sees the up-trend under pressure. The QQQ, SPY and DIA are bouncing up off of short term support. All averages remain in strong longer term up-tends. I tune out the news and pundit hysteria and let the market tell me its direction.   It takes many weeks for a top to form and I see no evidence of one beginning to form. This weekly chart of the S&P 500 Index ETF shows the index to be in a strong Weinstein Stage 2 up-trend which began in early 2012. As long as the SPY remains above its rising 30 week average (red line) I stay invested on the long side. To learn more about how I use stage analysis, listen to my December, 2012 Worden TC2000 video, whose link appears to the right of this post.

SPYweekly06062013

 

4 thoughts on “GMI and GMI-2 holding at 4; Stage 2 up-trend continues”

  1. Now, for a pithy question: if one’s account permits it, and if one were to choose to use a 3X etf during a buy signal, would it make sense to short an inverse etf, such as SQQQ, to take advantage of its time decay?

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