The market has weakened considerably. Another down day will likely cause the GMI to signal Sell. I am in cash and a little short in my trading accounts. My university pension remains 100% invested in mutual funds, but I am watching very carefully for any signs of a major down-trend.
IBD sees market in correction
Wednesday was 32nd day of QQQ short term up-trend, but it could reverse on Thursday. But with the put/call ratio around an extreme 1.2, the market could bounce.
GMI back to 6, but rocky open coming
With futures down a lot this morning, it looks like we might test Monday’s low today.