5th day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

63%

4th day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

65%

3rd day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

61%

2nd day of $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

57%

QQQ near top of channel.

QQQ04132015

New $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

61%

All of my GMI and GMI2 components are positive. The QQQ and SPY have now closed back above their 10 week averages. Time to trade on the  long side again, at least until earnings season is over.

GMI04102015

10th and final day? of $QQQ short term down-trend

GMI

5/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

58%

Another up or flat day on Friday will change the QQQ short term trend to up. The QQQ is clearly rising in its channel.

QQQdaily04092015

9th day of $QQQ short term down-trend

GMI

3/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

60%

8th day of $QQQ short term down-trend

GMI

3/6

GMI-2

3/8

What is the GMI?
 

WORDEN T2108

59%

QQQ remains in a channel.

QQQ40072015

7th day of $QQQ short term down-trend

GMI

3/6

GMI-2

2/8

What is the GMI?
 

WORDEN T2108

60%

Using the modified GMMA to dissect the DOW-30

GMI

3/6

GMI-2

3/8

What is the GMI?
 

WORDEN T2108

53%

With the GMI stuck at a middle 3 reading (see table below), I thought it might be useful to analyze the Dow-30 stocks according to the patterns I have been writing about that use a modified GMMA chart. Dow30GMMA024022015It is noteworthy that a little less than one half (14) of the Dow 30 stocks remain in a strong RWB up-trend.  Ten stocks are too close to call with their 6 red short term exponential averages overlapping with their 6 blue longer term averages such that there is no white space between the two sets of averages. Finally, six stocks are in solid BWR down-trends with all of their shorter term averages well below their longer term averages. I only want to own stocks showing RWB patterns because they are in strong up-trends. BWR stocks are for shorting, and I would never hold any of them long. The fact that about one third of the Dow 30 stocks are  in No-W patterns (no clear up or down-trends) could signify a market in transition. I provide an example of each pattern below.

RWB up-trend: UNH

UNHRWB04022015BWR down-trend: XOM

XOMBWR04022015

No-W, indeterminate trend: JNJ

JNJnoW04022015It is possible JNJ (and the other 9 N0-W stocks)  is in the process of transforming from a multi-year RWB up-trend to a BWR down-trend, like XOM did in 2014. Only time will tell…………

GMI04022015

 



© Copyright 2015 Wishing Wealth Blog . Thanks for visiting!