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
GMI1/6
GMI-22/9
T210847%

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
GMI2/6
GMI-21/9
T210851%

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.

Blog: Day 12 of $QQQ short term down-trend; there was a blue dot oversold bounce on Friday setting up the recent rally, see daily chart; the GMI flashes RED.

@ 7:34 pm
GMI2/6
GMI-21/9
T210851%

Note the oversold bounce on last Friday signified by the blue dot. This is the earnings release rally I had been expecting. But there were only 83 new highs and 30 ATHs, very pitiful. The post earnings release period wlll  be very interesting, if not scary. Note that the GMI has flashed RED.