23rd day of $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

69%

Happy Thanksgiving!

22nd day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

69%

QQQ held on Monday.

21st day of $QQQ up-trend; indexes may be over-extended

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

68%

The three market index ETFs I follow (DIA, QQQ, SPY) all opened outside of their upper daily 15.2 Bollinger Bands and closed back below them. This may represent extremely over-bought conditions. A down day on Monday would likely indicate some retracement of the recent rally will take place. I am therefore very cautious about the immediate continuation of the rally. Check out this daily chart of the QQQ.

QQQBB11222014

Nevertheless the GMI remains at 6 (of 6).

GMI11212014

 

 

20th day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

66%

19th day of $QQQ short term up-trend; $AGIO still rocks

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

63%

On September 25, I posted that AGIO had had a green line break-out on above average volume. Take a look at what AGIO did on Wednesday, up 14.5% on huge volume!

AGIO11192014Could the buyers of AGIO  in late September anticipate the great news released on Tuesday evening?

 

 

18th day of $QQQ short term up-trend; $BITA continues break-out and $ILMN re-tests GLB

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

64%

A few days ago I posted a chart showing that BITA had a likely cup and handle break-out. BITA rested the day after the break-out and then continued its rise on Tuesday. (Click on chart to enlarge.)

BITAdaily11182014

ILMN  successfully tested its recent green line break-out (GLB).

ILMNdaily11182014

17th day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

63%

Daily GMMA of $QQQ shows continued strong up-trend; $BITA: cup and handle break-out

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

64%

The daily GMMA chart of the QQQ shows the strong current up-trend in this index ETF.  The arrows show recent GMI Buy and Sell signals.  Note how the short term averages (red lines) constrict when a pause occurs. As long as the shorter term averages are rising above the longer term averages (blue) the up-trend is intact.  This is the RWB rocket pattern I like to see on daily and weekly GMMA charts. The black dotted line is a moving average of 1, to show the closing price of the QQQ each day. (My color scheme for the GMMA differs from that used by its creator, Daryl Guppy. )…….

QQQguppy11142014daily

I had noticed the strong up-trend in BITA over the past year (it has tripled!) and wished I had traded it.  One of my students alerted me to a nice move in the stock on Friday and I bought some.  It looks to me like BITA has broken out of a classic cup and handle pattern. I drew in the pivot point at the high point of the handle. Note the recent all-time high and the huge trading volume on Friday.  It remains to be seen whether this break-out will hold. (If it does not, I will exit quickly.) IBD has a nice article about BITA, which it published after it reported earnings last week. At least I will not have to worry about a bad earnings report!

BITAcup

This weekly GMMA chart of BITA shows that it has been in a RWB rocket pattern since early 2013 and had a green line break-out (GLB) to an all-time high in mid-2013.   How did I miss such a great move?

BITAwklyGMMA11142014

Meanwhile the GMI remains on a Buy signal with all six components positive.

GMI11142014

 

15th day of $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

64%

All of my GMI components remain positive.

14th day of $QQQ short term up-trend; $AAPL continues green line break-out

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

67%

After breaking above its green line, AAPL continues to strengthen.

AAPLdaily11122014



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