IndicatorsGMI: 1/6GMI-2: 2/8T2108: 28%When I get a new QQQ short term down-trend I buy a little SQQQ. It is a  low risk trade because if the down-trend ends quickly I will have a very small loss. In the past, 40% of new QQQ short term down-trends ended within 5 days. If this one reaches day 5, I will add more SQQQ. If a new up-trend begins I will exit SQQQ and buy TQQQ. Note that on a day when the Dow rose 600+ points, there were only 17 US stocks reaching new yearly highs. I like to watch the new high list during market declines because that is where the new leaders will first show up. It is much easier to spot them when there are … [Read More...]

IndicatorsGMI: 2/6GMI-2: 3/8T2108: 21% The post Blog post: Day 32 of $QQQ short term up-trend, likely to end on Thursday; GMI turns Red; $QQQ daily RWB almost gone, see charts; 53 new highs and 564 new US lows on Wednesday first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 2/8T2108: 27%The post Blog post: 28 new highs and 597 new lows, most since 1,056 on 3/23/2020; Only 4 stocks of the NASADQ 100 rose on Tuesday–$TSLA, $AAPL, $TCOM and $CHKP; Investors are taking cover in $AAPL and $TSLA. When these “safe” stocks finally crater we will know we are near a bottom; the Bear gets around to every stock first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 3/6GMI-2: 4/8T2108: 36%The post Blog post: Day 30 of $QQQ short term up-trend; but 343 new lows and 43 new highs in US stocks; bonds still rallying; remain defensive first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 3/8T2108: 37%I have written often that I am a chicken these days with my trading account, as I get closer to retiring. I hold three very small positions on stocks that bounced from oversold and held on Friday. If they fail to hold their bounces on Monday I will be stopped out and 100% in cash. The stock gurus I respect all say there are times to be out of the market. At times like now I sleep better while on the sidelines. On Friday, there were 370 new lows and 46 new yearly highs among 6700+ US stocks. There were only 13 stocks at all-time-highs (ATH). Those are terrible odds for someone like me who likes to buy stocks at ATH that are bouncing off … [Read More...]

IndicatorsGMI: 5/6GMI-2: 3/8T2108: 50%The post Blog post: Day 28 of $QQQ short term up-trend; On Wednesday $QQQ found support at 21day exp moving average, see chart–will it hold? Day after Thanksgiving is typically up. first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 4/8T2108: 51%When interest rates rise, foreign traders buy dollars to invest in dollar denominated instruments and to receive the higher interest. As dollar rises in value gold price (GLD) declines because it takes fewer of the more valuable dollars to buy an ounce of gold. The post Blog post: Day 27 of $QQQ short term up-trend, 419 new lows and 105 new highs among US stocks Tuesday; 89% successful new lows from 10 days ago, 45% successful new 10 day highs; Dollar, $UUP, now in daily RWB up-trend along with higher interest rates and $GLD therefore weakens first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 6/8T2108: 51%I regret that I changed the word scared to concerned in yesterday’s post when I characterized my current take on the market. With 438 new lows and 232 new highs registered Monday, I am even more concerned/scared about the market’s near term future. I have been reviewing the perspicacious writings of Marty Zweig and Ned Davis and am struck by their urgent advice not to fight the Federal Reserve’s intentions. When the Fed moves to raise rates the stock market and even the economy gets a cold or worse. Higher rates suck $$$ out of stocks because people can earn a decent return in interest type instruments rather than from more risky stocks. With inflation zooming, does anyone think rates will not … [Read More...]

IndicatorsGMI: 5/6GMI-2: 6/8T2108: 49%In the past I have exited stocks when the major indexes had appeared to be entering Weinstein Stage IV down-trends. This I would determine when a major index, usually QQQ, had a declining 30 week moving average. A declining 30 week moving average occurs when the latest week’s price being added to the average is less than the 31st week being dropped. In other words, the current week’s closing price is less than its closing price 31 weeks ago, a serous sign of weakness. This is not the case now. The 30 week averages for the primary index ETFs are still rising. So what is troubling me? The SPY and QQQ are capitalization weighted indexes, That means rather than just averaging all of the current … [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 54%Since the start of the current  $QQQ short term up-trend on 10/18 there have been more new highs than lows each day until the past 2 days. I think this could be a danger sign. The past 2 days only 34% and 27% of US stocks closed higher. Something is up. This weekly chart shows that % of stocks above their 200 day average is declining. The post Blog post: For 2 days in a row there have been more daily new lows than new highs–are the indexes masking internal weakness? first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 57%This is the histogram for DIA. The histograms are showing weakening momentum in the short term up-trend. The post Day23 of $QQQ short term up-trend; daily 12/26/9 MACD histograms have turned negative for $DIA, $IWM and $SPY, and $QQQ is on the edge. first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 62%Daily and monthly charts. Flag pattern? Massive daily volume on GLB. The post Blog post: Day 22 of $QQQ short term up-trend; GLB: $HAYW, Estimated 2021 EPS +479%, COMP: 98 making a big splash! first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 64%The post Blog post: Day 21 of $QQQ short term up-trend; GLB: $DLTR, see weekly chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 64%I put an alert in TC2000 to text me if SEDG has a GLB (green line break-out). I intend to tweet it out as soon as I get the signal. Solar has been hot lately, (pun intended). See the weekly chart below.  MarketSmith  listed  SEDG  under their Stock Ideas tab as  a stock near  a Cup  with  Handle pivot.  MarketSmith is a great tool that my students are learning to use. The GMI remains on a Green signal at 6 (of 6).The post Blog post: Day 20 of $QQQ short term up-trend; Watching $SEDG as it nears green line top, will it break through to an all time high? If so, I will tweet out an alert intraday, if you follow me @wishingwealth. … [Read More...]