With the large AAPL post-earnings decline (-12.4%), the QQQ has weakened (see daily chart below) and the more sensitive GMI-2 is now at 3. The QQQ has been flat since the New Year pop. With the T2108 at 84, I am a little more cautious than I would be with the GMI still at 6 (of 6). Some of the air came out of ONVO on Thursday and I bought back some of my shares at a lower price than I sold them earlier in the week. AAPL remains in a Weinstein Stage 4 down-trend and should have been sold long ago, as I had written months ago.
15th day of QQQ short term up-trend
With AAPL about to collapse on Thursday, I am getting very defensive. This market looks like it is peaking to me. Too many stocks have moved up together. I am lightening up and moving my stops closer to current prices.