Author Archive for Dr. Wish
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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.
I am very tired today after an all-day meeting. Did not watch the market.
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 […]
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 […]
The QQQ short term trend could turn up on Friday. More important, QQQ and SPY are now back above their 30 week averages.
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 […]
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.
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…….
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 […]
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 […]