My short term indicators are weakening and a lower close of the QQQQ on Monday would bring the GMI to 2. I am very defensive right now. Only 7 new highs and 9 new lows in my universe of 4,000 stocks on Thursday. The Worden T2108 indicator is now down to 41% and will have to fall below 20 to be in possible bottom territory.
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GMI and GMI-R advance
The up-trend continues as the GMI and GMI-R both rose on Monday. The key is what happens after June is history and earnings come out.
End of window dressing Tuesday-now earnings
The rally in strong stocks as part of mutual fund window dressing will end by Tuesday. Then we wait for earnings to drive stocks.