IBD: correction over; 18th day of $QQQ short term down-trend

GMI2/6
GMI-25/8
T210837%

IBD says Tuesday was a follow through day and marked the end of the correction. I will wait for the GMI to turn positive before I re-enter the market. I still do not trust this rebound yet.

3 thoughts on “IBD: correction over; 18th day of $QQQ short term down-trend”

  1. Mark Minervinni said he would wait a few days making sure distribution days won’t follow right after the follow through. Patience will prevail.

  2. Dr. Wish,
    You mention in your post that Oct. 21st is the 18th day of $QQQ short term down-trend, however the QQQ has been in an uptrend since Oct. 16th. Can you clarify how you are characterizing the term “short term down-trend”?
    Thank you

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