44th day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

54%

Watching AAPL as it approaches top 15.2 daily Bollinger Band, currently at 97.73:

AAPL07152014

43rd day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

60%

QQQ approaching top Bollinger Band (96.41) again.

QQQ07142014

42nd day of $QQQ short term up-trend; DC AAII work-shop July 19

GMI

5/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

56%

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.

GMI07112014

41st day of $QQQ short term up-trend

GMI

4/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

57%

GMI is back to 4 (of 6).  Markets still in longer term up-trends–for now…..

40th day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

62%

Since 2006 about 21% of QQQ short term up-trends have lasted for more than 44 days. We are now at the 40th day. The GMI is now back to 6 (of 6).

39th day of $QQQ short term up-trend

GMI

4/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

62%

Tuesday gave us a high volume distribution day. IBD now calls up-trend under pressure. GMI has declined to 4 (of 6).  I will not make any new purchases right now.

38th day of $QQQ short term up-trend; $AAPL shines

GMI

5/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

65%

The expected weakening occurred.  We could see weakness until 2nd quarter earnings start to be released.  AAPL was strong though, as it began a BB expansion. Check out this daily chart.

AAPLdaily07072014

37th day of $QQQ short term up-trend–extended?

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

70%

All of my GMI indicators remain positive. Since the GMI Buy signal on 4/22, the QQQ has advanced +9.3%, the SPY is up +5.5% and the DIA is up +3.4%.  The QQQ leveraged ETF’s are up:  QLD +19.4% and TQQQ +30.5%.   One of the best ETF performers has been SOXL, up +34.5%. During this same time period, AAPL is up +23.8%. The TQQQ beat all Nasdaq 100 stocks but VRTX, which was up +44.7%.  Anyone hold VRTX since April 22? Once again I see the value of buying and holding the 3X leveraged ETF during a GMI identified up-trend, rather than trying to identify in advance the rare individual stock that will outperform it.

This daily chart of the QQQ shows that its  pattern from the past week resembles one from last May (the areas in the green ovals).  Note that the 15.2 Bollinger Bands (BB) constricted and then broke out into an expansion with the upper and lower bands moving apart.   The QQQ is currently climbing its rising upper BB.  In May, this pattern lasted 4 days before the index leveled off for about one week.  On Thursday, the current BB expansion completed its 5th day with  QQQ climbing its upper BB. Tuesday’s and Thursday’s closes were outside the BB, often a sign of being extended.  Note in this chart that the QQQ has closed above its top BB only three times. I would  be surprised to see the QQQ close outside its top BB again on Monday…….

QQQdaily07032014

The GMI remains at 6 (of 6):

GMI07032014

 

 

36th day of $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

71%

Be careful.  A lot of stocks I follow are extended and reversed down on Wednesday.

35th day of $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

75%

This market is getting red hot–T2108 is at 75%. Major indexes traded above their top Bollinger Bands on Tuesday. I am raising stops.  I do not want to give up a lot of my gains.



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