UUP, the dollar ETF, is in a renewed RWB up-trend, likely reflecting higher interest rates in the U.S.
In contrast, oil, measured by USO, remains in a BWR down-trend.
The GMI is back to 6 (of 6).
Happy Thanksgiving—will post next on 12/2.
Month: November 2015
37th day of $QQQ short term up-trend; $DY–RWB rocket stock
The QQQ is right at resistance, but it looks strong to me.
After a GLB in May and a retest in June and August, DY continues up-trend. It has been number 1 in the IBD50 list and I own it.
Note how much clearer the trend is in a weekly chart.
And even clearer in a GMMA chart showing an RWB rocket pattern.
I prefer an RWB pattern on my modified GMMA chart any day!
Happy Thanksgiving–I will post again on 12/2.
36th day of $QQQ short term up-trend; $AAPL rotting?
The head and shoulders top formation I have been talking about remains intact. Note that AAPL has been unable to get above its declining 30 week average (red line). This may be an ominous Stage IV decline forming.
