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.

34th day of $QQQ short term up-trend; $GLD rising again

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

72%

This daily GMMA chart shows the renewed strength in GLD. All of the short term averages are above the rising long term averages (blue lines). It also shows a beginning RWB pattern. Click on chart to enlarge.

GLDGMMA06302014

End of 2nd quarter on Monday; $SPY and $QQQ in Stage 2 Up-trends–with $AAPL

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

71%

All GMI components are positive.

GMI06272014SPY remains in a Stage 2 up-trend (weekly charts):

SPYweekly06262014As is the QQQ:

QQQweekly06272014

As is AAPL.

AAPLweekly06272014See you at my AAII work shop on July 19?

32nd day of $QQQ short term up-trend

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

68%

End of quarter is on horizon.

31st day of $QQQ short term up-trend; $AAPL to pop?

GMI

6/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

70%

AAPL found support at its lower BB and 30 day average (red line) on Wednesday.  If all is well with the stock, I expect it to rise from here, at least to its top BB, around 94.  Click on chart to enlarge.

AAPLdaily06252014

30th day of $QQQ short term up-trend

GMI

5/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

67%

GMI and GMI2 weakening but still out of trouble.

29th day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

70%

Window dressing period is here.



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