GMI back to 5. Up-trend remains intact.
Dr. Wish
49th day of QQQ short term up-trend; GLD: Stage 4?
GLD may be entering a Stage 4 decline after the failed break-out 2 weeks ago. The 10 week average (blue dotted line) is now below the 30 week average (red line). Be careful. (Click on chart to enlarge.)
GMI falls to 3; T2108 drops; post-earnings lull; natural gas is turning
As this weekly chart shows, the T2108 has continued the decline that began 4 weeks ago. As of Tuesday’s close, 49% of NYSE stocks closed above their 40 day average price. Declines usually end when this indicator falls below 35%. This is the post earnings release lull we expected. I expect a bounce at the end of the month and a rise when earnings are released again in mid April.
Why is natural gas (GAZ) rising on its highest volume ever? I own some of this commodity ETF.
