$SPY back above 30 week average, promising up-trend

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GMI-27/8
T210883%

With the 4wk and 10 wk averages rising and the index above its 30 week average, it looks like SPY is forming an up-trend. I have started transferring my pension funds back into mutual funds. Once 30 week average curves up, indicating Stage II up-trend,  will transfer rest into market.

The GMI remains on a Green signal. Limited number of stocks hitting new highs and few successful new highs  are keeping total to 4 (of 6).

$QQQ completes 7th week above its rising 4 week average–strong up-trend!

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GMI-26/8
T210873%

All we need is for the 10 week average (blue dotted line) to retake the 30 week average (solid red line).

Many media  pundits fear that the technically weaker DIA and SPY will meet resistance at their 30 week averages and head back down to retest the March lows. While anything is possible, the first major warning sign for me would be a weekly close in any of these indexes below their 4 week averages, and then a penetration of their 10 week averages. For  now, I am holding TQQQ! Since the first day of my QQQ  short term up-trend count, now at U-33, TQQQ is up +54%.

The GMI remains Green and at 5 (of 6).