Author Archive for Dr. Wish
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On the sidelines.
Expect a bounce in UUP (US dollar). Note the daily 10.4.4 stochastics is below 20, a point from which UUP has bounced several times. UUP is also below its lower 15.2 daily Bollinger band. GLD (gold) should therefore weaken too.
Here are my GMI signals applied to the QQQ the past two years and since inception. Click on charts to enlarge. (Past performance does not guarantee future performance!) The GMI issued its last signal, Sell, on December 10. (My QQQ short term trend count, currently at D-25, is based on a much more sensitive and […]
It took me a long time to understand the wisdom of Nicolas Darvas and William O’Neil’s advice to always trade in synch with the overall market’s trend. I learned the hard way that the same buy set-ups and rules that worked in a rising market failed repeatedly in a declining market. That is why I […]
Nice to be in cash. LNKD next leader to crumble today. Even before today, this weekly chart shows that LNKD was a failed green line break-out (GLB) and trading below its critical 30 week average (red line). It also was beginning a BWR down-trend. None of my students would have been holding it! As did […]
Dollar takes a dive…..
TLT measures 20 year U.S. treasury bonds. The higher they go, the lower the long term interest rates. Does flight to bonds indicate fear of a market crash or fear of a recession?
Bounce continues as earnings are being released. Then what………….. I am still safely on sidelines.
IBD sees renewed up-trend. MY GMI and QQQ short term trend indicators are still pointing to a down-trend. For me, this rise remains a “dead cat bounce” until more of my indicators turn positive. A lot of technical resistance is just above current levels. By the way, I drew the lower horizontal line in this […]
After a multi-year RWB advance, health care stocks are now in a BWR down-trend. As are bio-techs!