With the GMI turning to Sell, I am in cash with a very small position in SQQQ in my trading accounts. The longer term trend remains up. On the other hand, the QQQ is very over sold, with a low daily 10.4 stochastic, and it could bounce at anytime. Sentiment in my class on Thursday was also quite bearish. That is why cash is the safest place for me now.
Dr. Wish
IBD sees market in correction; 3rd day of $QQQ short term down-trend
My trading accounts are now in cash or in SQQQ. The failure of leading stocks to hold during the last week of the quarter is a serious omen for me. Moreover, most recent green line break-outs have failed to hold. I remain invested in mutual funds in my university pension for now. IBD has now called the market in a correction. The GMI has fallen to 2 (of 6). Another day below 3 will trigger a new GMI Sell signal.
2nd day of $QQQ short term down-trend; $AAPL shines; $HAL green line break-out
AAPL shined again on Tuesday. AAPL held its trend line break-out for the second day.
HAL had a green line break-out with above average volume last Friday. So far, it is holding. Cup and handle? Check out this daily chart. (I have a very small position in HAL.) IBD comp rating: 89
