The QQQ short term down-trend reached the 6th day on Thursday, but the GMI signaled a new buy signal. I remain on the sidelines.
GMI rebounds to 4; on sidelines
In some of the most volatile market swings I have ever seen, the market rebounded again on Wednesday. The new GMI Sell signal could be reversed with a strong day on Thursday. Wednesday was the 5th day of the QQQ short term down-trend. IBD still sees market in correction. Best for me to be in cash for now.
GMI flashes Sell signal; mainly in cash
With the GMI below 3 for two days, it has now flashed a Sell signal. Tuesday was the 4th day of the new QQQ short term down-trend. I am mainly in cash with a small short position in the QQQ. IBD continues to call “Market in Correction.”