An up day will likely change the GMI signal to Green and the QQQ short term trend back to up after only 5 days. I have written that 40% of short term down-trends since 2006 lasted only 5 days or less. The more sensitive GMI-2 is already 8 (of 8). With interest rates so low, there is no other game in town, except for real estate. So the market up-trend is likely still alive. The QQQ is back in a 12/6/6 RWB pattern (see my glossary for definitions) having closed above all 12 moving averages.
And MZOR keeps rising to all time highs on above average volume.
When I attended Mark Minervini’s terrific 3 day workshop in October, he volunteered to someday speak to my students. Well Mark is a man of his word and he visited my class yesterday and gave a phenomenal 3 hour lecture. If only I had heard such a lecture when I was in my 20’s! Mark has just published his third trading book and I will comment on it after I have read it. His lecturing to my class reflects his strong commitment to teaching young people (and the rest of us) what he has learned from trading the past 30+ years. I highly recommend his workshop and books.
