With a revised Wednesday’s GMI reading of 2 and Thursday’s reading of 1, the GMI has turned Red. The GMI has turned Red briefly at oversold bottoms or at developing significant down-trends. Time for me to be very defensive.
Dr. Wish
In cash; Banks look like 2007; 2nd day of $QQQ short term down-trend
I transferred the rest of my university pension into a money market fund and am now 100% cash plus a tiny bit of $SQQQ in my trading account. None of the 38 world index ETFs I monitor are in an up-trend. The banks look like they did in 2007. Look at this weekly chart of the Global Banks index–Stage IV down-trend.
New $QQQ short term down-trend-$SQQQ
Tuesday was first day of new QQQ short term down-trend. About 40% last less than 5 days. I bought some SQQQ and will add more if the down-trend reaches 5 days.
SQQQ rises 3x as much as QQQ declines and vice versa–very speculative.
