Blog Post: Day 1 of $QQQ short term down-trend; GMI=0 and turns Red; Best to hold cash and receive income form money market funds; I agree with this wise quote from Nicolas Darvas

Indicators

  • GMI: 0/6
  • GMI-2: 1/8
  • T2108: 39%

My attempts to nibble at a few things the past few weeks have not worked out. Break-outs have been failing. During past significant market declines I waited to ge back in until the key indexes climbed above their 30 week averages and the average curved up. There was plenty of time to profit once that happened. I leave it to the day traders and gamblers to try to catch brief bounces. I love this quote from the great Nicolas Darvas:

I think this says it all. I will, of course, alert my readers to when the storm clouds have dissipated. With the GMI at 0 (of 6) and Red,ย  I see no reason to attempt to go long equities now. Happy Holidays to all!!!!!

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The post Blog Post: Day 1 of $QQQ short term down-trend; GMI=0 and turns Red; Best to hold cash and receive income form money market funds; I agree with this wise quote from Nicolas Darvas first appeared on Wishing Wealth Blog.