Author Archive for Dr. Wish
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The short term up-trend in the QQQ that, according to my definition (proprietary, so don’t ask for it), began on May 13 has now extended to 52 trading days. While two of the up-trends since 2006 have lasted 80 and 88 days, of the 11 up-trends that lasted 50 to 88 days, 45% ended by […]
GMI back to 6, but I remain cautious.
Long term trend of QQQ remains up in a Stage 2 advance. Short term up-trend is getting tired. Since 2006, only 9 of the 54 short-term up-trends of the QQQ have lasted longer than 50 days. After earnings season we will enter the dreaded September/October period.
With AAPL down in the after-market after posting solid earnings, this short term up-trend may be becoming a little old. This is not the time for me to add new positions in my trading accounts.
AAPL reports earnings today after close.
It was great to see many of you at Saturday’s AAII workshop. Friday was 47th day of current $QQQ short term up-trend. IBD still sees “uptrend under pressure.” This weekly chart shows that QQQ remains in a strong Stage 2 up-trend, however. Click on chart to enlarge.
I had been moving up my stops to protect my profits and have been stopped out of all positions in my trading accounts. Break-outs have been failing and growth stocks are faltering. T2108 is way down to a level not seen since last April. I am very cautious. The world news may be a distraction […]
See you Saturday at the workshop?
Watching AAPL as it approaches top 15.2 daily Bollinger Band, currently at 97.73:
QQQ approaching top Bollinger Band (96.41) again.