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After only one day saying the market was in a correction, IBD up-graded the outlook to up-trend under pressure. The GMI also came back from the brink,   rising to 5.   This extreme volatility is difficult to interpret, with technical indicators going back and forth.   It will take another strong day to change the QQQ short term trend to up again.   I remain on the sidelines in my trading accounts, waiting for the dust to settle. The longer term trends remain up, with QQQ, SPY and DIA still in Stage 2 up-trends. I therefore remain fully invested in mutual funds in my university pension accounts.

While my posts go out by email (if you signed up) around 7:00 AM daily, you usually can access them directly on the site the night before.

I am in cash on the sidelines in my trading accounts.   GMI could issue a sell signal on Thursday. Meanwhile, my QQQ short term trend count is now D-1, day one of a new down-trend.   I am usually more confident of a new short term trend when it reaches the 5th day.

The QQQ short term up-trend could end with a weak day on Wednesday.   While the GMI buy signal remains in effect, I do not like the action of the market and IBD has now declared   a correction.   The QQQ has now closed below its important 10 week average. I can rarely make money when this is so. There will be plenty of time to be invested once we get through the debt limit and government shut-down.   However, I remain invested in mutual funds in my university pension where I cannot trade often.   The Worden T2108 is at 42%, in neutral territory.   The major indexes are not in extreme over-sold territory— yet.