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Friday we all get to see how Alibaba (BABA) trades.
QQQ has now bounced above its 30 day average (red line) and its lower Bollinger Band. Now on to the Alibaba IPO this Friday.
Here comes the Fed!
Only 47 new 52 week highs in my universe of 6,000 stocks on Monday. Time to be very cautious.
The excitement about Apple and Alibaba may be diverting attention from the general market’s weakening. The Worden T2108 Indicator, the percentage of all NYSE stocks that closed above their simple 40 day average price has peaked again and started down. Look at this weekly chart of the T2108 (click on to enlarge): T2108 has peaked […]
UTHR has had a green line break-out to an all-time high. Check out this weekly chart.
The bond ETF’s continue to decline. Interest rates are rising……. Here are monthly charts of 2 biotechs that had green line break-outs to all-time highs on Wednesday. They may be worth researching.
Sorry for this late post. With the GMI2 at 4 (of 8) half of these sensitive indicators are now negative. And with earnings out and the AAPL event completed, this market may have little to propel it higher until 3rd quarter earnings come out. But let’s not forget the Fed’s impending tightening.