Blog: Modified Daily Guppy chart shows the current trend for $QQQ. QQQ is very oversold with Friday’s SFS (super fast stochastic) below 10. So QQQ may bounce this week. GMI remains RED, however. See Guppy charts for QQQ, AAPL, JNJ and the GMI table.

@ 8:42 pm
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GMI-22/9
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Modified Guppy chart tells the story. Best time to trade QQQ type stocks is when the index is in a RWB up-trend with all Red shorter term averages climbing well above the Blue longer term averages with a White space between them. The RWB pattern was evident from mid-April to early June and trading break-outs in tech stocks  worked very well for me. The dotted line shows the daily closes. In a solid up-trend it leads all of the averages higher. The dotted line is now declining below all of the averages. When we get a close above all of the averages, and a RWB, we might see a meaningful change in trend.The market’s behavior reveals all.

Modified Guppy charts also work for stocks!! Before I buy or sell, I always check out the modified daily Guppy charts.

Blog: Day 14 of $QQQ short term down-trend; UGA, the U.S. gasoline fund had an ATH today and a GLB last March. See weekly and monthly charts.

@ 9:15 pm
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GMI-22/9
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UGA tracks gasoline futures. This is an interesting ETF in current times. I missed the GLB in March because I don’t regularly scan ETFs for GLBs. Is the ETF about to run out of gas????? (I couldn’t resist this pun.)

Here is its monthly chart. Prior green line was changed to orange.

Blog: Day 13 of $QQQ short term down-trend; TESLA and GOOGL had BWR down-trends in their daily modified Guppy charts and swooned tonight. A BWR down-trend may predict bad earnings news. See their charts and NFLX.

@ 6:39 pm
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GMI-21/9
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Stocks often top out before their earnings do. It may be a good idea to check a daily modified Guppy chart before holding through earnings. TSLA and GOOGL declined tonight after market when their earnings were released. Look at their charts. Both have their red, shorter term, averages declining below their blue, longer term averages, with a white space separating them, hence, BWR down-trends. I showed you recently that NFLX also did, see charts below.