An up day will possible change the GMI sign to Green and the QQQ brief time period development again to up after solely 5 days. I’ve written that 40% of brief time period down-trends since 2006 lasted solely 5 days or much less. The extra delicate GMI-2 is already eight (of eight). With rates of interest so low, there isn’t any different recreation on the town, apart from actual property. So the market up-trend is probably going nonetheless alive. The QQQ is again in a 12/6/6 RWB sample (see my glossary for definitions) having closed above all 12 shifting averages.
And MZOR retains rising to all time highs on above common quantity.
When I attended Mark Minervini’s terrific three day workshop in October, he volunteered to sometime converse to my college students. Well Mark is a person of his phrase and he visited my class yesterday and gave an outstanding three hour lecture. If solely I had heard such a lecture once I was in my 20’s! Mark has simply revealed his third trading book and I’ll touch upon it after I’ve learn it. His lecturing to my class displays his robust dedication to educating younger individuals (and the remaining of us) what he has discovered from buying and selling the previous 30+ years. I extremely advocate his workshop and books.
- GMI: four/6
- GMI-2: eight/eight
- T2108: 56%
SOURCE: Wishing Wealth Blog – Read whole story here.