There were 7 new highs and 131 new lows in my universe of 4,000 stocks on Thursday. This is not the time to buy growth stocks at new highs. I remain mainly in cash.
No changes in GMI; 5th day of QQQQ short term down-trend; Mainly in cash
The GMI and GMI-R remain at zero. There were 5 new highs and 165 new lows in my universe of 4,000 stocks on Wednesday. The major index moving averages I follow are flat, a time when it is likely we will be whipsawed back and forth until a major up or down-trend develops. Time to be mainly in cash.
GMI, GMI-R: 0; T2108: 36%; 4th day of QQQQ short term down-trend
There were 4 new highs and 220 new lows in my universe of 4,000 stocks on Tuesday. The banks are getting decimated. I remain in QID and mainly in cash. Never go against the trend.