GMI at 0 –first time since last October

GMI0/6
GMI-20/8
T210823%

The QQQ, SPY and DIA are now below their critical 30 week averages. The collapse of the China markets may have serious repercussions for the rest of the world’s markets. I am all in cash with a few short positions. The key is to conserve one’s capital so that s/he can   invest when the clouds recede. I am not yet pulling my university pension accounts out of mutual funds yet, but I will, if the 30 week average of the QQQ and SPY turn down. Below is the weekly chart of the QQQ. Note that the index has   rarely closed below its 30 week average (solid red line). The last time was during October’s decline. Will the index bounce as it did then?

QQQweekly07082015

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