IndicatorsGMI: 6/6GMI-2: 7/8T2108: 30%The post Blog post: Day 40 of $QQQ short term up-trend; $CRWD retakes green line first appeared on Wishing Wealth Blog. [Read More...]
39th day of $QQQ short term up-trend; $LEGN moves up after GLB
IndicatorsGMI: 6/6GMI-2: 5/8T2108: 34%The post 39th day of $QQQ short term up-trend; $LEGN moves up after GLB first appeared on Wishing Wealth Blog. [Read More...]
Blog post; 36th day of $QQQ short term up-trend but small-cap stocks ($IWM) in daily BWR decline
IndicatorsGMI: 5/6GMI-2: 3/8T2108: 50%The post Blog post; 36th day of $QQQ short term up-trend but small-cap stocks ($IWM) in daily BWR decline first appeared on Wishing Wealth Blog. [Read More...]
Blog post: GMI falls to 3; $QQQ reaches oversold levels–will coming bounce hold? Put/Call ratio = .84, not high enough for most turns; T2108 dives
IndicatorsGMI: 3/6GMI-2: 3/8T2108: 21%I have never? seen the T2108 decline so fast. Only 21% of NYSE stocks closed above their 40 day simple moving averages. Major bottoms occur when T2108 is <10%. The post Blog post: GMI falls to 3; $QQQ reaches oversold levels–will coming bounce hold? Put/Call ratio = .84, not high enough for most turns; T2108 dives first appeared on Wishing Wealth Blog. [Read More...]
Blog post: 36th day of $QQQ short term up-trend and GMI=5 (of 6) and Green; I went to cash in my trading account last week; One reason, daily MACD…
IndicatorsGMI: 5/6GMI-2: 4/8T2108: 29%In the past, I exited mutual funds in my university pension accounts only after the longer term trend had turned down. That has not happened yet. In my more tradable IRA accounts I exit the market more frequently when some weakness becomes apparent to me. I do not want to give back all of my recent gains. So when the major indexes appeared to me to be weakening, I sold my TQQQ and other stocks and went to the sidelines. One indicator suggesting weakness is the 12/26/9 daily MACD histogram that turned red Friday, after days of declining. The chart below shows this relationship. The MACD histogram reflects the difference between the MACD line (blue) and the signal line (purple). When the MACD line crosses … [Read More...]
Blog post: 35th day of $QQQ short term up-trend but many stocks have failed break-outs, getting more defensive, GMI=4
IndicatorsGMI: 4/6GMI-2: 6/8T2108: 32%I went to cash in my trading account yesterday. I want to see if QQQ holds today. We are approaching a traditionally weak period in the market, especially after 2nd quarter earnings are out. GMI has declined to 4 (of 6). The post Blog post: 35th day of $QQQ short term up-trend but many stocks have failed break-outs, getting more defensive, GMI=4 first appeared on Wishing Wealth Blog. [Read More...]
Blog post: 34th day of $QQQ short term up-trend; Small cap stocks in trouble? Weekly chart of $IWM shows Stage IV top could be developing; other…
IndicatorsGMI: 6/6GMI-2: 7/8T2108: 35%$IWM is now below its critical 30 week average–Stage IV on the horizon? Green line top is now in place as advance has stalled. I am also a little concerned by the fact that T2108 is only at 38% when the indexes are setting records. This means that only 38% of the NYSE stocks are above their 40 day simple moving averages. The big stocks heavy weighted in the indexes are stronger and may be making the indexes mask weakness in many other stocks. After earnings season we head to the fall and September, the weakest month for the market. This is not the time for me to be making new risky buys. I am looking to cut back now even though my charts are … [Read More...]
Blog post: 33rd day of $QQQ short term up-trend; $QQQ remains in a daily RWB up-trend; so does $AAPL
IndicatorsGMI: 6/6GMI-2: 7/8T2108: 38%RWB up-trend means that all 6 shorter term averages (red) are rising above 6 longer term averages (blue) with a white space between them. The black dotted line is the daily close. The first sign of weakness occurs when the dotted line goes below the red lines, leading them lower. This is a modified GMMA chart, invented by Daryl Guppy. AAPL shows a similar pattern and a recent GLB to ATH. The post Blog post: 33rd day of $QQQ short term up-trend; $QQQ remains in a daily RWB up-trend; so does $AAPL first appeared on Wishing Wealth Blog. [Read More...]
Blog post: 32nd day of $QQQ short term up-trend; Key to success in market is to have an objective, defined set-up that implies an immediate move up,…
IndicatorsGMI: 5/6GMI-2: 7/8T2108: 46%I have TC2000 (see TC2000 tab on blog) draw a black dot when a stock in an up-trend bounces up from oversold. Oversold is defined as having a daily 10.1 stochastic value of 25 or less in any of the past 3 days. I have discovered that almost every significant rise in a stock begins from an oversold level. But not every oversold level leads to a big rise. Check it out for yourself. The key for me is to find a launched rocket near an all-time-high (ATH) that has become oversold and begins to move up. I can then buy it and place my stop loss below the low of the bounce. My recent TraderLion and Long Island Stock Traders Meetup presentation slides … [Read More...]
Blog post: $AAPL and $AMZN and $FB have GLBs, augurs well for $QQQ up-trend, now in 31st day; look at $GOOGL post GLB; GMI remains Green at 6 (of 6)
IndicatorsGMI: 6/6GMI-2: 7/8T2108: 44%These weekly charts show that several of the FAANG stocks have recently had GLBs to all-time highs. Since these stocks are heavily weighted in the Nasdaq 100 index (QQQ) it is likely that this ETF will continue to advance. However, if these stocks should close back below their green lines it would signal major weakness. Look what happened after GOOGL had its GLB last October. The post Blog post: $AAPL and $AMZN and $FB have GLBs, augurs well for $QQQ up-trend, now in 31st day; look at $GOOGL post GLB; GMI remains Green at 6 (of 6) first appeared on Wishing Wealth Blog. [Read More...]
Blog post: 30th day of $QQQ short term up-trend, GMI falls to 4 (of 6), more new lows than highs but weekly chart of QQQ shows strength; I always…
IndicatorsGMI: 4/6GMI-2: 7/8T2108: 35%I always check the weekly chart before selling anything. This chart shows that the up-trend in QQQ is intact. A weekly close below the 4 wk average (red dotted line) would be first sign of weakening of an up-trend. The post Blog post: 30th day of $QQQ short term up-trend, GMI falls to 4 (of 6), more new lows than highs but weekly chart of QQQ shows strength; I always check weekly chart before selling first appeared on Wishing Wealth Blog. [Read More...]
Blog post; 29th day of $QQQ short term up-trend; Futures indicate decline at the open today
IndicatorsGMI: 6/6GMI-2: 7/8T2108: 41%The post Blog post; 29th day of $QQQ short term up-trend; Futures indicate decline at the open today first appeared on Wishing Wealth Blog. [Read More...]
Blog post: 28th day of $QQQ short term up-trend; $CRWD successfully re-tests GLB
IndicatorsGMI: 6/6GMI-2: 7/8T2108: 42%The post Blog post: 28th day of $QQQ short term up-trend; $CRWD successfully re-tests GLB first appeared on Wishing Wealth Blog. [Read More...]
Blog post: GMI is at 6 (of 6) and up-trends remain intact; the $QQQ short term trend count is U-27; my profitable strategy of holding $TQQQ during a…
IndicatorsGMI: 6/6GMI-2: 7/8T2108: 48%In the GMI table below I provide my QQQ short term trend count. It is currently U-27, indicating the 27th day of the current up-trend which began on 5/26. I try to post in my daily blog the current QQQ short term trend count. I have found that a profitable strategy for me is to make an initial purchase of TQQQ, the 3x leveraged bullish QQQ ETF, on U-1. I then slowly accumulate TQQQ as the trend persists. I have found that this strategy repeatedly beats the performance of holding most individual stocks. Since U-1 on 5/26, TQQQ has advanced +23.3%. During the same period only 4% of the Nasdaq100 stocks, 1% of the S&P500 stocks, none of the Dow 30 stocks, and 6% … [Read More...]