Dr. Wish

The GMI has risen to 2 (of 6) and the more sensitive GMI-R to 4 (of 10).  Monday was the 69th day of the current QQQQ short term down-trend–and if the QQQQ holds today, it will be the start of a new short term up-trend.  While my longer term indicators remain in a down-trend, this looks like the first short term up-trend in  the QQQQ since the last one ended on August 29.  63% of the Nasdaq100 stocks closed above their 30 day average, the most since August 28.  The Worden T2108 indicator is now at  38%, the highest level since September 19, and well out of bottom territory.  Over 90% of the stocks in the Nasdaq100 and S&P500 stock indexes have a MACD above their signal line.  Bottom line:  This is not a time for me to be short.  I have begun to nibble at the ultra-long indexe ETF's, DDM (for the Dow) and QLD (for the Nasdaq100).  But, my major buying will come if these indexes hold on Tuesday.  I always wade in slowly and only add to my position if prior purchases are showing a profit.  When I am crossing the street and a truck is bearing down on me, I do not argue about its presence or hope that it will stop–I get out of the way or jump on board.  If a new up-trend becomes evident, I will jump on board. The reasons for the change in trend always become clear well after the turn.