Welcome to all of those who attended the U of MD. financial planner workshop on Wednesday. You can find the list of the books I mentioned in my speech to the lower right side of this page. For a quick review of my approach, please watch the December, 2012 video, link to the right of this post.
The SPY (S&P 500 ETF) remains in a longer term Stage 2 up-trend. The weekly chart below shows the SPY to be rising nicely above its 30 week average (red line).
The QQQ (NASDAQ 100 ETF) is also in a Stage 2 up-trend, but is a little weaker than the SPY, as it is hugging the 30 week line. The green and red arrows on this chart represent the GMI buy and sell signals.
I remain fully invested in mutual funds in my university pension.
markets whacked today with Nasdaq and Russell 2K continuing to lead down. might get a little bounce in near term, but the action in the Nas and R2K continue to look bad as they are sold off shortly after they rally into resistance. QQQ still holding above weekly trend lines, but that daily chart isn’t looking good as it couldn’t hold above its declining 50DMA when it tried to rally above it a couple days ago. The vice continues to tighten on the trading range and it should break one up or down in the coming days.