The DIA and SPY are weaker than the QQQ. The QQQ remains in a long and short term up-trend. But the GMI-2 is only 3 (of 8) showing that my very sensitive short term indicators have weakened. It remains to be seen whether this will lead to a bigger decline. With end of quarter window dressing not far away, I expect any weakness early in the week to end with a pop higher. I will be looking for formerly strong stocks and indexes in a confirmed up-trend that become oversold and then turn up…
Meanwhile, V, popped to an all-time high last week on huge volume and I took a small position. After a shake-out below its 30 day average (red line), V surged, rested, and then closed Friday above its (15,2) Bollinger Band. We might see a Bollinger Band expansion this week. It also looks like a possible cup and handle break-out.
Here is the GMI table:
Hypothetically. if you were a bull or bear, what percent would you be today? This is based on a 100% scale.
Thanks Doctor
Bruce
the week of the V’s, I took a position in VZ last week