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...]

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...]

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...]

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...]

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...]

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...]

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...]

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...]

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...]

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...]