Market remains in down-trend. Mainly in cash.
All Posts
20th day of $QQQ short term down-trend; $DIA has ominous BWR technical pattern
More new lows than new highs on Wednesday again. IBD back to up-trend under pressure, lowered from confirmed up-trend. AAPL and QQQ failed to hold morning gains. An ominous technical pattern is being formed by the DIA (Dow-30 ETF). It is now forming a bearish BWR pattern with all of the shorter averages (red) below the longer averages (blue), with all averages pointing down. Note that the former bullish RWB pattern ended in July.
GMI-2 climbs to 5; IBD says market back in up-trend
Tuesday was 19th day of current QQQ short term down-trend. Asia is surging back. I will wait on sidelines until the GMI issues a Buy signal.