General Market Index (GMI) table

I have seen a lot of markets fall in October and sometimes form major bottoms. The current market has been extremely difficult to trade with all of its gyrations. I am almost totally in cash in my trading accounts. The GMI signal could turn Red with a few weak days next week. My short term trend for the QQQ might turn down Monday. The QQQ is weaker than the SPY and DIA and is now below its critical 10 week average. This is the time to be on the sidelines and to wait for a definitive trend to develop.

A set up I like is when a stocks breaks above its green line top (GLB) and on a weekly chart has just bounced up above its 10 week average. OLED is such an example. Dotted line= 10 week average.

I also like a 10 week bounce to a new high on a stock that is above its last green line top. COUP is an example of this set up.

If I buy these set ups I sell if it closes back below its 10 week average or the weekly low of the bounce.

With the  GMI  strong, it is time to look for GLBs.