Stock Market Technical Indicators & Analysis
The GMI stayed at 5 on Thursday and switched to a Buy mode. This is because the GMI closed for the second day above 3. Thursday was the 3rd day of the new QQQ short term up-trend. I am slowly adding to TQQQ. If the new up-trend lasts through Monday, its 5th day, I will accumulate more TQQQ.
Meanwhile, FB continues to climb, up another 3.6% on Thursday. This daily Guppy GMMA chart shows that all of the shorter term averages (red) are now rising above the longer term averages (blue). 
The market continued to gain strength on Wednesday. The GMI is at 5 for the first time since October 17. Another strong day on Thursday could trigger a GMI buy signal. IBD still sees the market in an up-trend. It has taken over 40 years of trading to realize I must trust the indicators and not my emotions. It is scary to buy into a new up-trend because, by definition, it often occurs after a down-trend. We all tend to drive with our hands on the rear view mirror. The past colors our perceptions. So I grit my teeth and go long, but gradually, and in stages. If this new up-trend lasts for five days, I will pyramid up. Too many times after a long up-trend, I find that I would have done great had I just begun buying index ETF’s early in the up-trend. I am doing so now, but will exit quickly if the new up-trend fails.
While the GMI remains in a sell mode, the QQQ short term trend turned up. Tuesday was the first day of the new up-trend. I will become more confident of the new trend if it reaches day 5. Until then, I am buying a little TQQQ. If it reaches day 5, I will double my position. But I will feel much more confident in the up-trend if the GMI can rise above 3.