INTC looks strong thus far after its post earnings release high volume GLB, but NVDA has had a failed GLB. Let’s see if NVDA can retake its green line @212.19 when it reports earnings on 5/20. Also watching NBIS after it has retaken its green line, see daily chart.
Screenshot
NVDA may find support near its lower Bollinger Band and 30 day average around 188-189.
Screenshot
NBIS has retaken its green line after three blue dots (oversold bounces). I am watching it closely. I explained the Blue Dot of Happiness setup in my TraderLion 2025 presentation, the link is on the Webinars tab to this blog.
AMZN had an above average volume GLB on Friday. It reports earnings this week. See daily and monthly charts. AMZN must not close below green line @258.60. To see my presentation to the MoneyShow last week where I describe the GLB setup and how I trade it, please go to the Webinars tab on this blog above. You can also sign up in the video to get on the waiting list for my Masterclass with Richard Moglen. Also, tab above for the discount coupon for TC2000, which I use to identify my setups.
I will present on Wednesday for the first time at the MoneyShow virtual event. It is free to register here and you will receive a recording if you miss the live event. Just prior to my presentation, Les masonson will present about his new book using a TQQQ trading strategy similar to the one I have posted about. This book taught me a lot about the QQQ ETF.
I know the market is volatile, as it reacts to every new twist and turn in the Iraq war. Still, with the GMI= GREEN, I am tiptoeing into the strongest stocks. As I will describe in Wednesday’s talk, I am focusing on the few stocks each day that trade at an ATH (all-time high). The GMI is weighted toward those stocks. On Friday, 152/6407 US stocks reached an ATH. That is 2.3%! To me, that indicates these stocks are showing extremely high relative strength. These stocks beat 98% of all US stocks. I focus on the minority of these stocks that had a GLB Friday or last week.
I found that 32 of the 152 stocks were banks, followed by 20 that were in the semiconductor sector. I found that AMD had a GLB last week. See its weekly chart. A close below the green line @267.08 would constitute a failed GLB and require me to exit if I had a position. Other stocks with a high volume GLB last week include: DELL, MRVL, CLS, see their charts below.
