Archive for the ‘ General Market Index (GMI) table ’ Category
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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 […]
OILT came up on my TC2000 scan for rockets bouncing off of their 10 week average. When I looked at it, it appears to have broken out of a cup and handle base on Thursday on unusually high volume. Check out this daily chart: OILT closed Friday right at the pivot point. If I bought […]
One of the best areas of support for a rising stock is its 10 week moving average. A lot of rocket stocks rest there and then resume their rise. I created a new TC2000 scan that scans over 6,000 U.S. stocks for a strong rocket pattern and a bounce up off of the stock’s ten […]
I wrote in In 2009, after many of the stocks that he had advocated had fallen, that Jim Cramer had finally got religion and embraced technical analysis. For many prior shows he had called chartists “morons.” He learned the hard way that buying good companies during a bear market was foolish. Hence his new found […]
It is very difficult for me to fly by instrument, but the GMI has just issued a Buy signal. Talk about head fakes! I am mainly in cash in my trading accounts and making small bets.
The market came back enough on Friday to open the possibility of a meaningful bounce. The QQQ and AAPL closed just above their 10 week averages. This week will tell us if this rise will hold. On the bull side is the fact that the T2108 and the daily stochastic indicators reached oversold extremes last […]
As you know, I like to focus on stocks breaking to new 52 week highs. Strength usually begets strength. One of the things that my stock gurus (Livermore, Darvas, O’Neil) have noticed is that when a lot of the the types of stocks they traded broke out and did not continue higher it often provided […]
The short term up-trend in the QQQ that, according to my definition (proprietary, so don’t ask for it), began on May 13 has now extended to 52 trading days. While two of the up-trends since 2006 have lasted 80 and 88 days, of the 11 up-trends that lasted 50 to 88 days, 45% ended by […]
It was great to see many of you at Saturday’s AAII workshop. Friday was 47th day of current $QQQ short term up-trend. IBD still sees “uptrend under pressure.” This weekly chart shows that QQQ remains in a strong Stage 2 up-trend, however. Click on chart to enlarge.
Next Saturday, Dr. Alan Ellman and I will be doing an AAII work-shop in Virginia. I hope to see you there. Meanwhile, GMI is at 5 (of 6) and still on a Buy signal.