QQQ
7th day of $QQQ short term down-trend; Cup and handle break-out: $GIMO
It looks to me like GIMO had a break-out to an all-time high on Monday on above average volume.
However, this market is not out of the woods yet.
GMI signals applied to $QQQ
Below is a chart of the GMI signals applied to the QQQ since 2006, when I started it. It has kept me out of the major declines and back in afterwards, although not at the exact bottom. This is a trend following tool. The GMI signals are computed differently than my short term trend count for the QQQ, currently at D-6.
Here is just the past 3 years.
The GMI is currently 1 (of 6) and on a Red signal since October 12. I am very defensive for now. Thank you to my co-instructor, David McCandlish, for creating the charts above.
