12th day of $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

65%

All of my GMI and GMI-2 indicators are positive.

11th day of $QQQ short term up-trend; GLB stocks: $MPLX, $RENT

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

65%

Here are weekly charts of two stocks that are recent GLB that hit new all-time highs last week.

MPLXwkly11072014

RENTwkly11072014Meanwhile, the GMI remains at 6 (of 6).

GMI11072014

10th day of $QQQ short term up-trend; $PTCT—cup and handle?

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

63%

PTCT came up in my Darvas scan and looks like it could have a cup and handle break-out.  A high volume rise above 42.77 could signify the beginning of a major move up. PTCT has been consolidating after its recent green line break-out (GLB). (Click on chart to enlarge.)

PTCTdaily11062014

9th day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

62%

Markets remain in short and longer term up-trends.

8th day of $QQQ short term up-trend: GLB: $QLYS

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

60%

QLYS is a recent GLB (green line break-out)  showing a lot of strength after beating earnings estimates.  Below is its weekly chart.

QLYSwkly11042014

7th day of $QQQ short term up-trend; GLB: $CBOE, $AMBA

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

63%

CBOE had a green line break-out (GLB) on Monday after reporting increased earnings and trading volume.  See its weekly chart:

CBOEWKLY11032014AMBA recently re-tested its GLB and is now climbing.

AMBAwkly11032014

Stocks at new highs and with good fundamentals; $MNST, $NKE

I ran my TC2000 scan for stocks with good earnings that hit a 52 week high on Friday. The list is posted to the right. Newhi11022014There were 15 stocks. Five have a flag to the left, indicating they appear in one of my IBD watch lists. All of these but DTSI and FARM, are trading above a recent green line break-out (GLB) at an all-time high. I own several of these. One stock, MNST, had a huge volume break-out, consolidated, and is now moving up. Check out its weekly chart below.

MNSTwkly11022014Some strong stocks do not meet all of this scan’s criteria.  For example, NKE looks good but has not doubled in the past year. NKE recently had a nice GLB, as shown in this weekly chart……. NKEwkly11022014

 

Friday was the 6th day of the new QQQ short term up-trend. QQQ short term up-trends can often  last for several months. Given that we are in the strong seasonal period for the market, I would not be surprised if this up-trend lasts into January. Eventually, higher interest rates will kill this market.  So I am watching rates very carefully. The GMI is at 6 (of 6) and all but one of the GMI-2 components are positive.

GMI10312014

 

5th day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

57%

All but one of my indicators are positive.

4th day of $QQQ short term up-trend; GLB: $AAPL

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

53%

AAPL continues to rocket higher after consolidating for weeks around its green line break-out (GLB). This is a daily chart.

AAPL10292014Here is its monthly chart, showing the green line drawn at its multi-month peak in 2012.

AAPLmonthly10292014

3rd day of $QQQ short term up-trend

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

55%

I am very tired today after an all-day meeting. Did not watch the market.



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