It is likely that with Thursday’s close, the GMI will turn back to Green and a new QQQ short term up-trend will have begun. I had written that the weakness we were experiencing might lead to a rebound when earnings started coming out. I have seen this play before…
A recent IPO that had a GLB to an all-time high is GEMP. I haven’t researched the company yet, but it did have increased volume on the break-out. Below is the weekly chart. I sell a GLB if it trades back below the green line.
Alan Ellman and I will be speaking at the AAII workshop this Saturday.
