3rd day of QQQ short term down-trend; in cash; HLF-stage 4?


The GMI went to zero for the first time since October 7.   The IBD Mutual Fund index is now below its 50 day average.   It is good to be on the sidelines. Keep an eye on HITK–it came up in my DARVAS scan.

Another stock that came up in my Stage 4 scan is HLF, which just closed below its 30 week average (red line). It looks like HLF may have put in a double top. Note the heavy selling (red spike) three weeks ago. Click on chart to enlarge.


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2nd day of QQQ short term down-trend; WTW- Stage 4 decline


I am in cash in my trading accounts.   With the GMI at 1, there is no reason to hold long positions. Note that the QQQ has now closed below its 10 week average, but the Spy is still above it.   With the T2108 indicator at 58%, the market is not in oversold territory.

I would not be long WTW now.   The stock came up in my Stage 4 scan and it looks like WTW could become a big loser!   Note the heavy institutional selling visible in the large red volume spikes during   weeks in which the stock declined. Click on chart to enlarge.






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GMI at 4; up-trends intact; 13 powerful stocks at new highs


While this market has shown extreme volatility, the indexes are remaining above their key daily and weekly moving averages.   A few more good days could yield the powerful 4wk>10wk>30wk pattern on the QQQ.   If only AAPL would come to life!   A major   signal for caution I see is that the Worden T2108 indicator is very extended, at 81%.

Meanwhile, my new high+great earnings scan yielded 13 hits out of more than 5,000 stocks: QCOR, ASPS,SWI,ORLY,MA, CASY,DCI, FAST, CVLT,SXL, AZO, NSR, MANH.   Any stock with good earnings that can come through the market of the past year at new 52 week highs is   worth researching. All of these but NSR are also at multi-year highs.

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