Blog Post: Day 2 of $QQQ short term down-trend; 6 US new highs and 212 lows; 10:30 weekly chart shows QQQ resting on its 30 week average; Stage 4 imminent?

Indicators

  • GMI: 1/6
  • GMI-2: 1/9
  • T2108: 19%

QQQ is getting very close to a Stage 4 decline. The weekly close (gray line) is just above the 30 week average (red line). Time to be very defensive. If 10 week average (dotted line) closes below the 30 week average I will likely move my university retirement funds out of mutual funds and into cash/money market funds. Also, if that happens, the GMI=0.

 

My weekly QQQ index will turn negative if QQQ closes below its 30 week average. Then the GMI will equal 0. I never go long when the GMI=0.

The post Blog Post: Day 2 of $QQQ short term down-trend; 6 US new highs and 212 lows; 10:30 weekly chart shows QQQ resting on its 30 week average; Stage 4 imminent? first appeared on Wishing Wealth Blog.