Author Archive for Dr. Wish
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Over the past year I have been whip-sawed by stocks, with my trading account value going to all-time highs and then giving back the advance. I recently became so tired of the market roller coaster that I took a vacation from the market and went to the sidelines. So I missed the recent bounce and […]
The rises in the big momentum stocks like NFLX, GOOG and AMZN are moving the QQQ higher but are masking the weakness in the general market. Traders are seeking refuge in a few big names. There were almost 400 new lows on Thursday, more than twice the number of new highs. With a put/call ratio […]
When AAPL fails can the rest of the market be strong?
We may finally be reaching the top I have been talking about. I am mainly in cash in my trading accounts.
There were almost twice as many new lows than highs on Monday. The troops are not in synch with the indexes. I think we are close to an important top after we get through earnings.
In reviewing my market statistics this weekend, I was surprised by what I learned. With the Nasdaq 100 (QQQ) streaming to an all-time high last week I expected to see strength in my measures of how individual stocks had performed. The QQQ closed up 5.5% last week to an all-time high. But the SPY (+2.4%) […]
This market will cool after most earnings are out and we enter the post-earnings lull period. Towards the end of the year we will also have to cope with the Fed. It is noteworthy that we still had over 100 new yearly lows and only 60% gainers on Thursday. The QQQ futures indicate a likely […]
My GMI sign post to the right may be wrong. The GMI went to a Buy at the close of July 14. The futures (light blue horizontal arrow on chart) suggest that QQQ will open around the top BB today. About 40% of the Nasdaq 100 stocks now have an over-bought stochastics. This bounce has […]
Enjoy the rally while it lasts.
It remains to be seen how far this bounce will carry. IBD still sees uptrend under pressure. Another up day will turn the GMI to a Buy signal.