The GMI and GMI-R are both back to one. The QQQQ short term up-trend, in its 11th day, is barely alive. I am reducing my position in QLD and looking to go short again in QID if the trend turns down. There were 6 new highs and 76 new lows in my universe of 4,000 stocks on Tuesday.
QQQQ short term up-trend still in peril; GMI: 2; GMI-R: 3
The QQQQ short term up-trend completed its 10th day on Monday. But it is right on the critical 30 day moving average (28.91). I remain in a few long positions, but am ready to throw things into reverse if the market turns down. We remain in a major long term down-trend and any counter trend rally can quickly fail. There were 5 new highs and 72 new lows in my universe of 4,000 stocks on Monday. The last time we had more new highs than lows was September 19.
Cash secured puts expire profitably; 9th Day of QQQQ short term up-trend; GMI: 2; GMI-R:4
The GMI remains at 2 (of 6) and the GMI-R at 4 (of 10). The Worden T2108 indicator is 56%, in neutral territory. Three IBD100 stocks hit a new high on Friday: CWT, EBS and SHEN. I own CWT and successfully wrote December puts on EBS in early December.