I remain cautious in my IRA trading account because this rise is occurring on relatively low volume and most leading stocks are not participating. IBD still reports, “market in correction, ” because we have not had a rise in the indexes on higher volume than the prior day. Nevertheless, the GMI is at 6 (of 6) and there were 472 new highs on Thursday in my universe of 4,000 stocks. The longer term trend remains firmly up and I remain 100% invested in mutual funds in my university pension.
Dr. Wish
Up-trend completes 8th day, ARMH break-out?
The markets rebounded and the GMI and GMI-R are back to their maximum levels. Daily volume in the major indexes was not great and IBD still considers the market to be in a correction. We need a few more days to see if this up-trend has legs. ARMH, cup with handle break-out?
Leaders falling, getting cautious
I do not like the way some of the leaders performed on Tuesday. GOOG is in a free fall and ended down $26.40. IGTE collapsed. The QQQQ is also below its 30 day average and we are close to beginning a new short term down-trend. The T2108 indicator is declining and bottoms tend to occur at much lower levels. I am getting very cautious.