Author Archive for Dr. Wish
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SPY, DIA and QQQ have overbought daily 10.4 stochastics. The Worden T2108 is zooming!!! Now about 58% of NYSE stocks closed above their simple 40 day moving averages! Note that the market bottomed in August when T2108 was below 10%.
QQQ is near resistance. A lot of indicators are converging around 107-108. Will QQQ break through? The QQQ remains in a technically weak pattern with the 4wk<10wk<30wk averages. As long as the 30 week average (solid red line) is moving down we are in a potential Stage IV down-trend. This is no time to be […]
While the short term trend is now up, I do not have confidence in a change until it lasts 5 days. While this is a nice rally, the longer term trends are still down–for now. Here is the GMI table I should have posted yesterday. The T2108 zoomed to 45 on Monday.
Based on their methodology, IBD says in Monday’s edition that Friday’s rise constituted a follow through day and that they believe that the market is now in a “confirmed up-trend.” I find IBD’s market calls to be analogous to my very short term trend indicator for the QQQ (currently in the tenth day of a […]
Let’s see how far this bounce can go.
All of my indicators remain negative, but also very oversold.
Watching from sidelines–in cash. While I missed it in Monday’s IBD, IBD now sees the market in a correction. All indexes I follow have oversold Stochastics and closed outside their lower Bollinger Bands. We could get a bounce.
Nobody knows when this market will find a bottom. Note in this “naked” weekly chart of the QQQ, the 4wkavg(red dotted)<10wkavg(blue dotted)<30wkavg (solid red line). This is my primary definition of a “submarine” pattern. It shows a stock or ETF in a significant down-trend. I am in cash in both my university pension and all […]
QQQ bounces off of lower daily 15.2 Bollinger Band (as expected). Will it hold? Click on chart to enlarge.