With the GMI and GMI-R back to 1, I remain mainly in cash. I am a chicken, and prefer to wait out times like this. The T2108 is at 27% still not at the depths where meaningful turns come. The key to success in the market is to lose little during the bad times.
Dr. Wish
Getting defensive; short term down-trend may be imminent; is this the market bottom?
My short term indicators are weakening and a lower close of the QQQQ on Monday would bring the GMI to 2. I am very defensive right now. Only 7 new highs and 9 new lows in my universe of 4,000 stocks on Thursday. The Worden T2108 indicator is now down to 41% and will have to fall below 20 to be in possible bottom territory.
GMI and GMI-R advance
The up-trend continues as the GMI and GMI-R both rose on Monday. The key is what happens after June is history and earnings come out.