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UUP, the dollar ETF, is in a renewed RWB up-trend, likely reflecting higher interest rates in the U.S. In contrast, oil, measured by USO, remains in a BWR down-trend. The GMI is back to 6 (of 6). Happy Thanksgiving—will post next on 12/2.
The QQQ is right at resistance, but it looks strong to me. After a GLB in May and a retest in June and August, DY continues up-trend. It has been number 1 in the IBD50 list and I own it. Note how much clearer the trend is in a weekly chart. And even clearer in […]
The head and shoulders top formation I have been talking about remains intact. Note that AAPL hasÂ been unable to get above its declining 30 week average (red line). This may be an ominous Stage IV decline forming.
I have been watching EA ever since my stock buddy, Judy, told me about their likely benefiting from their games with a Star Wars theme. When EA bounced from support on Thursday, I purchased some. EA may be retaking its green line break-out. If it breaks below support I will quickly sell. Star Wars comes […]
While the indexes are rebounding, it is noteworthy that there were twice as many stocks at new lows than new highs on Wednesday. About 86% of the Nasdaq 100 stocks rose, compared to 67% of all stocks. So the tech stocks are out-performing right now. Only one stock came up in my new high and […]
The scenario I sketched on Sunday night came true with the market bouncing from oversold. Almost one half of the Nasdaq 100 stocks reached extremely oversold levels on Monday. The GMI did not flash a Sell signal. I bought a few positions that bounced up off of support on Monday and will sell if the […]
GMI falls to 4 (of 6). SPY closes back below its falling 30 week average (red line)–very ominous.
This weekly chart of AAPL is very ominous for Apple and the entire market. A break of the neckline would have a target price of near $80.