Dr. Wish
GMI: 4; GMI-R: 8; 7th day of QQQQ up-trend; buying QLD and DDM
The GMI remains at 4 (of 6) and the GMI-R at 8 (of 10). There were 53 new highs and 47 new lows in my universe of 4,000 stocks on Thursday. The Worden T2108 indicator is at 53%, in neutral territory. As this up-trend develops, I am accumulating the ultra long QQQQ ETF, QLD, and the ultra long ETF for the Dow 30, DDM. Thursday was the 7th day of the current QQQQ up-trend.
GMI: 4; GMI-R: 8; 5th day of QQQQ up-trend
There were 58 new highs and 47 new lows in my universe of 4,000 stocks on Tuesday. Since this new QQQQ up-trend began (by my definition) 5 days ago, the QQQQ has risen 2.5% and 74% of the Nasdaq 100 stocks have advanced; 22% rose by more than 5%. The QLD has risen 5.2%. Staying on the side of the market trend greatly enhances the probability of profitable trading.