GMI=2, stays Red; Cash is king

GMI2/6
GMI-24/8
T210831%

The QQQ closed (dotted line) back below all 12 averages in the daily Guppy chart.

As did the SPY.

Will the prior lows hold? For now, cash is king! The time to be invested is when the red lines are rising above the blue lines (daily RWB pattern), as was the case for the QQQ most of the time since 2017.

And the weekly Guppy chart shows very clearly that the longer term trend of the QQQ has changed, with the weekly RWB up-trend pattern gone.

 

 

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