IndicatorsGMI: 0/6GMI-2: 1/8T2108: 25%The post Blog Post: Day 31 of $QQQ short term down-trend; $QQQ remains in daily BWR down-trend, see chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 1/8T2108: 19%Note its RWB up-trend in 2020 when one could make money owning it. RWB is the pattern I want in order to buy a growth stock. Who knows when the current weekly BWR pattern will end. The post Blog post: Day 30 of $QQQ short term down-trend; $ARKK remains in weekly BWR down-trend, see chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 0/8T2108: 19%The post Blog Post; Day 29 of $QQQ short term down-trend; 20+ year treasury bonds, $TLT, in a daily BWR down-trend since January, see chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 1/8T2108: 16%The post Blog Post: Day 27 of $QQQ short term down-trend; $QQQ remains in Stage 4 down-trend, see weekly chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 16%QQQ is now in a weekly BWR down-trend. All shorter term averages (red lines) are declining below the longer term averages (blue lines) with a white space separating them. Note the prior BWR up-trend pattern that lasted from May 2020 until January 2022. The last time there was such a weekly BWR down-trend was in 2008. See how it ended. The white space disappears and the red and blue lines overlap. You don’t have to get in at the bottom. One strategy is to wait for the BWR pattern to end and really go in when the next RWB up-trend pattern begins. Another is to wait for the weekly closes (dotted line) to rise above all of the red lines and lead … [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 24%These seven stocks appear in my watchlist of stocks recently mentioned by IBD or MarketSmith. This weekly chart shows how MPC has been in a firm up-trend. Note the retest of its GLB. Its 4wk>10wk>30wk since January. Note how it holds its 4wk average and has multiple green bars indicating support at the 4 wk. It has also found support at its 10 week average. MUSA has a similar strong pattern. Note how it has closed 10 weeks in a row above its 4 wk average. That is a sign of a strong up-trend. The post Blog Post: IBD calls market in Confirmed Up-trend but GMI remains at 0; 7 stocks at ATHs: $BMY, $MRK, $CVX, $MUSA, $PAG, $MPC, $PAG, see weekly charts first appeared … [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 17%Note the prior weekly RWB up-trend. (All shorter term averages (red lines) rising above longer term averages (blue lines) with white space separating them). The post Blog Post: Day 24 of $QQQ short term down-trend; S&P500 index about to enter weekly BWR down-trend first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 1/8T2108: 16%Only time will tell. GMI still=0. This was a trend channel line (TCL) bounce–thank you Vas. (@TCLTrader) The post Blog Post: Day 23 of $QQQ short term down-trend; This daily chart shows that $SPY bounced right on schedule at its TCL–is it a dead cat bounce? first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 12%I have recently discovered  a Youtube site (The Restless Page) that my late co-instructor, David, built that shows you how to add some of my indicators and create Guppy charts etc. using TC2000. I have used TC2000 for over 20 years and it is easy to use,  because I can!  I hope you enjoy them. Here is a weekly Guppy chart of QQQ showing it has entered a BWR down-trend (all short term averages , red lines, are declining below longer term averages, blue lines, with a white space separating them). Here is ARKK, which is in much worse technical shape. The post Blog Post: Day 22 of $QQQ short term down-trend; Here are a set of tutorials by my late co-instructor that … [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 12%If T2108 declines into single digits, I will be looking for a bottom. The key is to react after the trend has changed and not before. Below is the weekly chart of T2108. The post Blog Post: Day 21 of $QQQ short term down-trend; T2108=12%, sentiment is extremely negative; Cash is King first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 15%Getting very short term over-sold with T2108 hitting 12% intraday. Would like to see single digits for a true bottom. But P/C ratio at 1.07 suggests bounce likely. The post Blog Post: 6 straight weeks of declines in QQQ, see weekly chart and T2108 low; put/call ratio=1.07, bounce coming? first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 1/8T2108: 19%When a stock has a failed green line break-out (GLB) it often portends more weakness. See weekly chart. The post Blog Post: Day 19 of $QQQ short term down-trend; 1504 new lows; $TSLA back below green line– failed GLB first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 29%Maybe QQQ will bounce up off of this trend channel line–thank you Vas! I drew this line weeks ago! This is a Stage 4 down-trend. No time for me to buy and hold. The post Blog Post: Day 17 of $QQQ short term down-trend; QQQ could be close to support, see weekly chart first appeared on Wishing Wealth Blog. [Read More...]