Author Archive for Dr. Wish
Dive into the archives.
GMI remains on a Buy, IBD sees market in a correction, and my QQQ short term trend is still down–go figure! IF AAPL can hold its after market rise, the QQQ could start a new short term up-trend by Friday. Stay tuned…..
Until the QQQ short term trend turns up, I remain on the sidelines.
The GMI count was 3 at last Thursday’s close, not 4 as I had posted. The GMI closed at 4 on Monday and another up day on Tuesday will trigger a GMI Buy signal. Check out yesterday’s GMI table for the accurate count. Sorry for the confusion. IBD still sees the market in a correction.
An up day on Monday could trigger a GMI Buy signal. I prefer to wait on the sidelines. Some of my hourly indicators suggest to me that the DIA, QQQ and SPY could retreat Monday from their recent bounce peaks. But if they hold, the market trend will turn up again. I remain very skeptical […]
Check out this link about the possible head and shoulders top in the tech stocks. I wrote about this possibility several days ago. When I have this much company I fear it will not happen. I still do not trust this bounce.
I remain on the sidelines.
Yet another bounce!
For the first time since December, 2012, the QQQ has closed the week below its 30 week average (solid red line). This is a serious sign of weakness that bears careful watching (pun intended). If the QQQ remains below its 30 week average so that the average itself turns down, it will signal to me […]
I am in cash on the sidelines in my trading accounts.
Let’s see how far this bounce can go.