General Market Index (GMI) table

$QQQ is still in Weinstein Stage IV decline; $T2108 extremely high

@ 11:08 pm
GMI5/6
GMI-26/9
T210884%

This weekly chart of the QQQ shows clearly that this index (as well as the DIA and SPY) is still below its declining 30 week average (red line). This is a Stage IV decline. The index has made a nice rebound from the December lows. If the index can close back above the 30 week average and if the red line turns up, it will be time for me to be 100% back in the market. Until then, I take small positions in a few strong stocks and set close stop losses. One note of caution. T2108 is at 84% an extremely overbought level it rarely reaches  or remains at.

The GMI, at 5 (of 6) is now on a Green signal.

GLB stock $KL rising with gold; the GMI could turn Green with a few more new highs

@ 6:00 pm
GMI3/6
GMI-25/9
T210876%

One of the few GLB stocks which I wrote about in December , KL, is successful and continues to climb.

The GMI remains at 3 (of 6) and on a Red signal. 72 new highs on Friday is the most since 107 was reached on December 5th. If we can get back to 100 new highs,  the GMI could turn Green. Note that the IBD Mutual Fund Index (0MUTI) is now back above its 50 day average.

 

GMI still Red; 3 GLB stocks $CHGG $OKTA $ $POST and maybe $CRON today.

@ 8:59 am
GMI2/6
GMI-26/9
T210876%

Three growth stocks have broken through their green line bases to an all time high (GLB) last week. CRON may do so Monday. Here is one example (weekly charts). I always sell any GLB stock that closes back below the green line.

CRON (a marijuana related company) is close to a new all-time high :-).

 

While some stocks are breaking out, the GMI remains Red. If I buy anything in this situation  I put in close sell stops. The GMI signal turns Green only after a new up-trend is established.