The GMI and GMI-R are now each 1, indicating a very weak market. The Worden T2108 indicator is now at 27%, still above the level at which bottoms typically occur. There were 35 new highs and 276 new lows in my universe of 4,000 stocks on Wednesday. Wednesday was the 2nd day of the new QQQQ down-trend. I am in cash and in QID.
Dr. Wish
GMI: 2; GMI-R: 3; QQQQ in short term down-trend
The GMI is now 2 and the GMI-R is 3. The QQQQ has now met my criteria for a short term down-trend. I am mainly in cash.
GMI: 4; GMI-R: 5; QQQQ weakening; Mainly in cash
The GMI is now 4 (of 6) and the GMI-R is 5 (of 10). There were 67 new highs and 186 new lows in my universe of 4,000 stocks on Monday. The QQQQ appears to be breaking. I am mainly in cash.