The QQQ short term up-trend will end with a flat or down day on Tuesday. This will likely cause the GMI to flash a Sell signal. Stay tuned. I am mainly in cash or holding SQQQ in my trading accounts. My conservative university pension remains invested 100% in mutual funds.
I am scared for this market. I think we will see one more punt of the market to the retail investor before we get a a good wack. Interest rates are creeping slowly north, weak stocks are moving markets. Time to cash in the winners and run for the exits.
Thank you for taking the time to update your blog in the evening. It works well for me.
If I understand how your GMI system works, I’m thinking that a sell signal would be issued once the GMI is below 3 for two days in a row. When you say it will likely cause the GMI to flash a Sell signal, wont it take two days in a row for this to occur?
You are correct–thank you.
Always wait for the signal.
I guess by then to wait for 2 more days with GMI at 2 the market could be down another 2-4%? Have you backtested it by using 3 or lower on the GMI for 2 days in a row?