Blog Post: 85 new US highs and 391 lows on Thursday; $QQQ short term up-trend likely to end and GMI to turn RED with Friday’s close; Retest of October lows coming? Moving to 100% cash, see weekly chart in Stage 4 down-trend

Indicators

  • GMI: 2/6
  • GMI-2: 2/8
  • T2108: 46%

My indicators have turned extremely negative. I was stopped out of all of my very small positions in my trading account on Thursday. Without a miraculous strong up day on Friday, it appears that there will be at least a retest of the October lows. Cash is king, especially with the nice returns on brokerage money market funds to which my cash is swept. Weekly chart of QQQ shows it has failed to hold its 30 week average (red line). QQQ remains in a stage 4 down-trend.

 

 

 

 

The post Blog Post: 85 new US highs and 391 lows on Thursday; $QQQ short term up-trend likely to end and GMI to turn RED with Friday’s close; Retest of October lows coming? Moving to 100% cash, see weekly chart in Stage 4 down-trend first appeared on Wishing Wealth Blog.