IndicatorsGMI: 3/6GMI-2: 5/8T2108: 39%In spite of the short term down-trend, the QQQ has now closed above all 12 daily averages in my RWB chart (not shown). This weekly chart shows that QQQ is holding above its 30 week average (red line, Stage II) and is just below its 10 week average (purple dotted line). A close above this average (189.41) would be a significant show of technical strength. With the QQQ and SPY still in a Stage II up-trend, I remain invested in my long term pension mutual funds, but not in my shorter term trading accounts. [Read More...]
Russell 2000 ($IWM) in daily BWR down-trend
IndicatorsGMI: 3/6GMI-2: 5/8T2108: 36%IWM is also below its critical 30 week average (not shown). [Read More...]
$QQQ closes back above all 12 daily moving averages
IndicatorsGMI: 3/6GMI-2: 5/8T2108: 37%Dotted line is daily close. If red averages climb above blue, I will start buying QQQ again and selling weekly OTM calls against it. [Read More...]
10th day of $QQQ short term down-trend; $QQQ resting on 30 week average
IndicatorsGMI: 1/6GMI-2: 0/8T2108: 27%SPY and DIA have closed below their 30 week averages. [Read More...]
8th day of $QQQ short term down-trend
IndicatorsGMI: 2/6GMI-2: 4/8T2108: 37%Note critical support at 150 day average (lowest dotted line). [Read More...]
Daily RWB up-trend of $QQQ (and $SPY) over, BWR down-trend ahead? In cash in trading accounts
IndicatorsGMI: 1/6GMI-2: 2/8T2108: 33% [Read More...]
$QQQ Still in Weinstein Stage II up-trend
IndicatorsGMI: 1/6GMI-2: 2/8T2108: 32%The QQQ and SPY have retaken their 30 week averages (red line). This weekly chart shows QQQ is still in a Stage II up-trend. [Read More...]
3rd day of $QQQ short term down-trend
IndicatorsGMI: 0/6GMI-2: 1/8T2108: 30% [Read More...]
$GLD continues RWB advance; GMI signal turns Red; IBD says market in correction
IndicatorsGMI: 1/6GMI-2: 1/8T2108: 25% [Read More...]
Daily RWB pattern gone for major Index ETFs; Day 1 of new $QQQ short term down-trend; GMI signal may change
IndicatorsGMI: 2/6GMI-2: 2/8T2108: 41%I bought back covered calls and sold all of my positions in SPY and TQQQ last week when the ETFs closed below all of their red lines. Took a small position in SQQQ with the start of the new QQQ short term down-trend. However, my analysis below shows that about 40% of new QQQ short term down-trends last 5 days or less and 58% last 6-47 days. I therefore remain very vigilant and flexible. The daily RWB up-trends of the QQQ, SPY and DIA have all ended. They have each closed below all of their red and blue averages, as shown in this chart of QQQ. The dotted line represents the daily close. I will go long again in the market ETFs again … [Read More...]