Stock Market Technical Indicators & Analysis
Chances are we might have some more strength in the leaders of the past year, as mutual funds close out their 4th quarter portfolios. The funds want to hold winners and shed the losers. Thursday was the 24th day of the current QQQQ short term up-trend. As this weekly GMMA chart of the QQQQ shows, the Nasdaq 100 index remains in a strong RWB up-trend.
The GMI and GMI-R remain at their maximum values. 
The last 2 weeks of December may bring strength for the leaders as mutual funds acquire them as part of end-of-quarter window dressing. The only warning signal I see now is the rise in bullish sentiment. The latest Investors Intelligence poll shows 56.7% of advisers are bullish. Rates near 60% often come near market tops. However the Worden T2198 indicator is only at 58%, in neutral territory. The key for me is to wait for a definite change in trend and not to try to anticipate one. So, I remain 100% long in my university pension and hold a position in QLD in my IRA trading account.
Monday was the 16th day of the short term up-trend for the QQQQ. Please note that I corrected my post from yesterday. The stochastic that I used to track the Dow 30 since 1916 was the monthly 25.4.4 stochastic. These settings were discovered by trial and error.