General Market Index (GMI) table

The GMI is RED and it makes sense to me to be in cash in my trading accounts. Vacation time!  Plenty of time to get in once there is an up-trend and a daily RWB pattern. One loses a lot of $$$ trying to catch the bottom. NO ONE KNOWS WHERE OR WHEN IT WILL OCCUR. Traders who got in last May had lots of time to ride the up-trend. It is that simple.

Even the Magnificent 7 ETF is entering a daily BWR down-trend. Ride it in a RWB up-trend! Look at NVDA.

The weekly 10.4 stochastic for QQQ is at 33. Strong up-trends occur with this indicator consistently above 80. Look at the recent evidence for QQQ. We must be patient.

My adapted Guppy chart shows that a BWR down-trend pattern may be forming. Until QQQ closes (shown by dotted line) above all 12 of the red/blue averages, I will not go long TQQQ, or buy any Nasdaq 100 stocks. Look at the turnaround pattern that occurred  last May. The key to success is to not go long until AFTER an up-trend is apparent. Access my blog at: www.wishingwealthblog.com.

The GMI remains GREEN at 4 of 6. The weekly 10.4 stochastic is only at 68. Strong up-trends remain above 80.

Roughly 40% of new short term down-trends end in 5 days or less. Once it passes 5 days I become more confident of the change in trend. Note the higher volume recently on the down days. My GMI is still on a Green signal. So I wait on the sidelines in my trading accounts and invested in mutual funds in my longer term retirement accounts.