General Market Index (GMI) table

Blog: Day 10 of $QQQ short term down-trend; as expected, QQQ found support at lower 15.2 daily Bollinger Band; See how modified daily Guppy chart would have gotten you out of NFLX well before its post-earnings swoon last week. GMI=3

@ 9:19 pm
GMI3/6
GMI-21/9
T210856%

QQQ might bounce this week but still looks technically weak. Last Friday it did have a blue dot signifying an oversold bounce. Note the 30 day average, solid red line,  is curving down, a major sign of weakness.

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NFLX has been in a daily BWR decline since May. Always monitor the daily modified Guppy chart.There are 12 exponential averages and one average=1 to show daily closes as a dotted line. The dots show daily low prices.

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The GMI = 3 and the GMI2=1

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Blog: Day 5 of $QQQ short term down-trend, could turn up on Monday; GMI=3 but GMI2=7 see Table; QQQ might break out of its consolidation this week with earnings, see daily chart.

@ 7:16 pm
GMI3/6
GMI-27/9
T210852%

The coil is constricting between the upper and lower 15.2 daily Bollinger Bands. Note the several failed blue dot oversold bounces. Which way will QQQ break out? Stay tuned. Earnings season is upon us.

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The GMI=3 but the GMI2 of some more sensitive shorter term measures is =7. And QQQ’s Stage 2 longer term up-trend continues with its 10 week average above its rising 30 week average for the 10th week.

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