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QQQ short term up-trend reaches 41st day, now in jeopardy; T2108 declines
The GMI2 is 4, reflecting short term weakness. Since this up-trend began, the QQQ has advanced almost 9% in only two months. The market could not maintain that type of momentum indefinitely. A decline in the QQQ on Wednesday would trigger a short term down-trend in the QQQ. However, with the GMI so strong, I will not touch my university pension accounts. I am cutting way back, however, on my trading accounts for now. This weekly chart shows that the T2108, at 70%, is now out of extreme territory. Click on chart to enlarge.
40th day of QQQ short term up-trend
GMI2 declined to 4. There were 281 new highs and 26 new lows on Monday.