Green dot signal suggests a bounce. SPY and DIA also have recent green dots.
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My General Market Index, GMI, turns Red
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.
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.
