GLD may be entering a Stage 4 decline after the failed break-out 2 weeks ago. The 10 week average (blue dotted line) is now below the 30 week average (red line). Be careful. (Click on chart to enlarge.)
GMI falls to 3; T2108 drops; post-earnings lull; natural gas is turning
As this weekly chart shows, the T2108 has continued the decline that began 4 weeks ago. As of Tuesday’s close, 49% of NYSE stocks closed above their 40 day average price. Declines usually end when this indicator falls below 35%. This is the post earnings release lull we expected. I expect a bounce at the end of the month and a rise when earnings are released again in mid April.
Why is natural gas (GAZ) rising on its highest volume ever? I own some of this commodity ETF.
47th day of QQQ short term up-trend; AAPL and market weakening
Market internals continue to weaken. T2108 down to 69% It appears from the weak futures that the post-earnings period decline is upon us. A lot of people may be selling AAPL ahead of its Wednesday product announcement instead of waiting until afterwards. AAPL might therefore present a buy signal in the next few days. The GMI buy signal from 12/23 remains in effect.