Weekly charts.
Blog post: GMI turns RED; in cash with a little $SQQQ; Daily GMMA chart tlls it all
Never fight the general market trend. It is much easier to make money when we have a daily RWB pattern on the GMMA chart.
21st day of $QQQ short term down-trend; GMI could flash Red tomorrow; time to be in cash
The odds are against one making money by buying growth stocks at new highs. Only 22% of the stocks that hit a new high 10 days ago closed higher Tuesday than they closed 10 days ago. And there were only 70 new highs out of 5,950 U.S. stocks. With odds like these one is gambling by staying long. I am in cash with the GMI=2 and likely to turn Red tomorrow. Even the Dow is weakening.
And the Russell 2000.
