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Oct 29.14 / Dr. Wish
4th day of $QQQ short term up-trend; GLB: $AAPL

AAPL continues to rocket higher after consolidating for weeks around its green line break-out (GLB). This is a daily chart. Here is its monthly chart, showing the green line drawn at its multi-month peak in 2012.

Oct 28.14 / Dr. Wish
3rd day of $QQQ short term up-trend

I am very tired today after an all-day meeting. Did not watch the market.

Oct 27.14 / Dr. Wish
GMI performance since 2006; GMI flashes a Buy; GLB $RCPT takes off; GLB: $EW

In response to a comment left by a reader who questioned the value of the GMI, I am posting a visual of how the QQQ behaved since 2006 while the GMI was on a Sell (red) or Buy (green) signal.  You will see that the GMI got me out of the major declines.  The cost […]

Oct 26.14 / Dr. Wish
$QQQ short term trend turns up, retakes 30 week average; GLB stocks shine: $AAPL,$BABY,$AGIO,$RGLS,$REGN

The snap-back in my indicators was quick and extraordinary. A new QQQ short term up-trend has begun. However, it has to last 5 days for me to heavily accumulate TQQQ,  the 3X leveraged bullish QQQ ETF.  I did take a small position in TQQQ at the end of the day on Friday. Buying right after […]

Oct 23.14 / Dr. Wish
20th day of $QQQ short term down-trend

The QQQ short term trend could turn up on Friday.  More important, QQQ and SPY are now back above their 30 week averages.

Oct 22.14 / Dr. Wish
Indexes meet resistance; 19th day of $QQQ short term down-trend

The SPY and QQQ both hit a wall at their 30 day averages on Wednesday.  The key for me is whether they can close above this key average or head back down.  Check out this daily chart of the QQQ.  Note how the QQQ could not break above its 30 day average (red line). If […]

Oct 21.14 / Dr. Wish
IBD: correction over; 18th day of $QQQ short term down-trend

IBD says Tuesday was a follow through day and marked the end of the correction. I will wait for the GMI to turn positive before I re-enter the market. I still do not trust this rebound yet.

Oct 20.14 / Dr. Wish
17th day of $QQQ short term down-trend; SPY still a broken up-trend

Rebound continues, but for how long? Look at this daily chart of the SPY. SPY is way below the long term trend line (blue line) that it recently broke. We now have a lower bottom.  Will we get a lower top?  Stay tuned…….

Oct 19.14 / Dr. Wish
16th day of $QQQ short term down-trend; Bottom or dead cat bounce? Keeping an eye on the $BABY

The sharp rise on Friday came from very over-sold levels. Given that the market often is strong towards the end of the year, I would not be surprised to see a rise that takes us through mid-January. But with people being worried by  Ebola and the Fed’s cessation of QE , this market could resume […]

Oct 16.14 / Dr. Wish
15th day of $QQQ short term down-trend; skeptical of rally

The Worden T2108 has held and  is now back to 20%. It is very important to study carefully the quality of the next rebound.  I suspect the rebound will not break the current down-trend and that the decline will resume with a vengeance.  If the major indicators rebound to their 30 week averages, I will […]

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