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All of my indicators are positive again.
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.
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 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 […]
Isn’t it nice to be in cash on the sidelines during this decline? The GMI issued its Sell signal on 9/26. All of the pundits are rushing to explain the decline by things happening now. However, the GMI picked up on a decline long before these events. One must follow the market, not the news. […]