The GMI remains on a Sell signal and I am 100% in cash. The major indexes are in Stage IV Weinstein down-trends. I see no reason to be in this market except on the short side. But the holiday season is a nice time to just take a break from trading. The NYSE is in a BWR down-trend. Note the transition from an RWB up-trend to a BWR down-trend.
The Dow Jones 20 Transportation index looks even worse.
And the SPY is not far behind.
And then there is the wounded leader, AAPL.
To survive in this business, one must protect capital and not fight the trend…..
