The GMI and GMI-R remain at one, each. The markets remain on hold as we complete the year. I remain mainly in cash with a small short position, a few long positions and some cash secured puts that I have sold. Time to take it easy and let the market sort itself out.
Dr. Wish
Getting ready to go short; GMI: 1; GMI-R: 1
The GMI and GMI-R are both back to one. The QQQQ short term up-trend, in its 11th day, is barely alive. I am reducing my position in QLD and looking to go short again in QID if the trend turns down. There were 6 new highs and 76 new lows in my universe of 4,000 stocks on Tuesday.
QQQQ short term up-trend still in peril; GMI: 2; GMI-R: 3
The QQQQ short term up-trend completed its 10th day on Monday. But it is right on the critical 30 day moving average (28.91). I remain in a few long positions, but am ready to throw things into reverse if the market turns down. We remain in a major long term down-trend and any counter trend rally can quickly fail. There were 5 new highs and 72 new lows in my universe of 4,000 stocks on Monday. The last time we had more new highs than lows was September 19.