With the GMI at 6 (of 6) and the QQQ short term trend now up, I must grit my teeth and wade back into this market. I have to heed my indicators and not my emotions. Perhaps good 2nd quarter earnings will propel a lot of stocks higher. I am monitoring stocks with green line break-outs (GLB) to all-time highs. Check out ROCK, which last Friday broke through a top last reached in May, 2006:
I appreciate your sharing your trying to take emotion out of the decision making process. That is a powerful insight on your part, that you recognize the need to do that.
As far as now being long the stock market… the markets appear to dislike uncertainty. It seems that anything that clarifies is “good”. Now that BREXIT has been clarified and now that the Presidential candidates have been reduced to two and that either one seems to be okay for stocks, the markets are moving up.
Add in the movement to negative interest rates in other countries and those monies now moving into U.S. bonds AND stocks at the same time. Something new for sure.