IndicatorsGMI: 6/6GMI-2: 4/8T2108: 74%These are stocks on my watchlist of stocks recently on an IBD or MarketSmith list that reached an ATH on Wednesday. Of these, the following had a GLB or retook their green line on Wednesday: FN, ACHC, TRV, ABC, HALO, PFGC, CTAS, TITN, CB, JBL Note the volume on TRV. The post Blog Post: GMI turns 6 (of 6) for first time since August 18 as $QQQ closes back above 30 week average! See list of 22 IBD/MS stocks at ATH, 10 of which had a GLB, see daily chart of $TRV first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 3/8T2108: 70%But be extra careful. Few stocks hold ATHs these days. The post Blog Post: 95 US new highs and 186 lows, only 7 at ATH; $HALO holds green line Tuesday, see daily chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 3/8T2108: 69%Note the recent volume spikes. The  green line peak was set February, 2021 at 56.40. See if it can stay above that price. The post Blog Post: 130 US new highs and 193 lows; In a tough market, $HALO has GLB on above average volume–worth monitoring, see daily chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 5/8T2108: 73%This weekly chart looks promising as the 30 week average (red solid line) is about to curve up. This is a prime signal for me to begin tiptoeing into the market again. If SPY closes back below the 30 week average I will quickly exit. The post Blog Post: Day 9 of $QQQ short term up-trend; $SPY has is likely to close above its critical 30 week average for the third week–end of Stage 4 decline? See chart. first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 4/8T2108: 73%It has been my impression that after a scary market decline, people are more risk adverse and first seek out the big name large cap stocks to invest in. Once they profit from these trades they feel more comfortable buying the more risky growth stocks. This may be why the DIA and SPY are looking much stronger than QQQ. See below the daily adapted GMMA charts for each. DIA and SPY have developed RWB up-trends. Today, I therefore started to slowly reinvest my university retirement funds in mutual funds that track the SPY. The troubling news about inflation and a possible future recession may already be baked into the market. It is very difficult to stay scared of the same issues for a … [Read More...]

IndicatorsGMI: 5/6GMI-2: 4/8T2108: 70%$STLD has been holding up well after its GLB (green line break-out) last week. Note how it is tracking its 8 exponential moving average (dotted line). Note the bounce up off of that average on Monday. If I bought it, I would place my stop below Monday’s low or sell if it closes below the green line. $STLD came up in my TC2000 scan of my IBD/MS watchlist for stocks that are near an ATH, have a rising 8 EMA above the 21 EMA for at least 7 consecutive days, and bounced up off of the 8 EMA. Another stock that came up was $TMDX. Others were: PSN, RJF, VMI, GPC, FICO and AIT. Check them out. The post Blog Post: Day 7 of $QQQ short term … [Read More...]

IndicatorsGMI: 4/6GMI-2: 5/8T2108: 68%When T2108 declines to <10%, it often signals the bottom of the decline. See monthly chart. The post Blog Post: Day 5 of $QQQ short term up-trend; 72 US new highs and 201 lows; $T2108 <10% may have suggested market bottom yet again, see monthly chart</a> first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 5/8T2108: 73%I am slowly accumulating TQQQ as QQQ short term up-trend persists. Meanwhile CASY seems strong. The post Blog Post: Day 4 of $QQQ short term up-trend; 98 new US highs and 160 lows; $CASY had recent GLB and is at another ATH, see daily chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 6/8T2108: 75%Gold (GLD) revives as dollar (UUP) plummets. The post Blog Post: Day 3 of $QQQ short term up-trend; 131 US new highs and 96 lows; $GLD retakes 30 week average as $UUP loses it, see weekly charts first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 6/8T2108: 73%Hi volume and cup and handle! The post Blog Post: Day 2 of $QQQ short term up-trend; 97 new US highs and 76 lows; $STLD and $IMCR have GLBs, see daily charts first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 6/8T2108: 74%I will be looking for a true change in the market’s trend when the 10 week average (blue dotted line) retakes the 30 week average (red solid line) and the 30 week average turns up. Until then, I am less confident of a true change in the longer term trend of QQQ or DIA. The gray solid line is the weekly close DIA is stronger but not there yet. The post Blog Post: New $QQQ short term up-trend; GMI= 5 and remains on a Green signal since 10/26; Can 10wk average retake 30 wk? See weekly 10:30 charts of $QQQ and $DIA first appeared on Wishing Wealth Blog. [Read More...]