Dr. Wish
Blog Post: Day 6 of $QQQ short term down-trend, it could end Thursday; Out of $SQQQ. $QQQ had a high volume rise and blue dot over sold bounce.
Time to be out of SQQQ and to nibble at TQQQ. QQQ short term trend could turn up by Thursday’s close. I have to be nimble to catch the changing trend. Note the accumulation day on Wednesday. Only 38% of my new class of 130 students thought QQQ would rise this week. Learning what a contrarian indicator is.
Blog Post: Day 3 of $QQQ short term down-trend; GMI declines to 0 (out of 6), will flash RED at Monday’s close; I do not fight the tide, time to be in cash and/or $SQQQ in my trading account; $WBA in long Stage 4 decline
I cannot remember a time when the GMI declined so quickly. When it turns RED at Monday’s close, both of my short and longer term indicators for QQQ will be indicating a decline. While QQQ is now below its 10 week, 30 day and 30 week averages, it is still in a Weinstein Stage 2 up-trend, for now. The 10/30 weekly chart below shows this. If the 10 week average closes below the 30 week average and the 30 week average curves down, I will begin to exit the mutual funds in my conservative university pension accounts. In 2000, 2008 and 2022, a declining 30 week average helped me to exit the market BEFORE the real decline began. In the past, a reading below 10% in T2108 has been where markets have often bottomed.
In this 10/30 weekly chart, the gray line tracks the weekly close, the dotted line is the 10 week average and the red line is the 30 week average.
