17th day of $QQQ short term up-trend; interest rates spike

GMI

6/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

44%

I do not like the weakening in the bonds. TLT is the ETF for the 20 yr Treasury bonds. The RWB up-trend is over and the shorter averages (red) are moving below the longer term averages. As TLT declines, interest rates rise.

TLTGMMA06032015The last time we got an interest rate hike scare was 2013.

TLTGMMA2013The market did not tank, but it may this time. Since 2nd quarter earnings are now released, I suspect we will get a lull  with a weak market until July and earnings come again. I have taken a lot of money off of the table….

 

 

 

16th day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

40%

15th day of $QQQ short term up-trend

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

38%

14th day of $QQQ short term up-trend

GMI

5/6

GMI-2

6/8

What is the GMI?
 

WORDEN T2108

37%

Some signs of short term weakening are appearing. First, a lot of my holdings were rapidly climbing. When that happens the market is often near a short term sell-off. Second, I find that the QQQ and AAPL are up against resistance and thus more likely to retreat than to advance. Lastly, I have noticed that the market tends to be strong at the end of the month and then weak at the beginning of the new month. I therefore took some money off of the table on Friday afternoon. I do not want to give back a lot of my recent profits.

The GMI has now weakened a little to 5 (of 6) and the more sensitive GMI2 is at 6 (of 8).

 

GMI05292015

13th day of $QQQ short term up-trend; $PTLA , $IMAX and $SYNA shine.

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

42%

Many of you wrote me to ask whether you can receive my TC2000 alert emails. I send them only to students in my university class on technical analysis. I have trained my students to understand my approach and how to interpret my signals. One day I might offer my course and the alerts  to a wider audience.

PTLA is a biotech that my stock buddy, Judy, first told me about. It has had a green line break-out, a subsequent consolidation, and is now rising again. I own it.

PTLA05282015Remember I wrote about IMAX when it had a green line break-out. Look at Thursday’s action!

IMAX05282015Note the many high volume up-days (black volume spikes) since April leading into the green line break-out.  Traders with deep pockets were buying before the big announcement. By reading the chart signals one could ride along with them.

SYNA is another recent successful green line break-out.

SYNA05282015I sell any green line break-out that declines back below its green line, and buy it back if it comes back above it. To see a webinar I did on green line break-outs, go to the link on the right for my December 2012 webinar.

 

 

 

 

12th day of $QQQ short term up-trend; $PTLA breaks out

GMI

6/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

45%

What an incredible day!  The types of stocks I trade are booming. Check out FOMX, AMBA, NXPI, PTLA, BLUE, REGN, AHS, to name a few. Those of you who receive my TC2000 email alerts would have received one on  PTLA on Tuesday,  before its advance on Wednesday. Judy has been talking to me about PTLA for months.

PTLA05272015

11th day of $QQQ short term up-trend; $FOMX and $AMBA buck down-trend

GMI

5/6

GMI-2

4/8

What is the GMI?
 

WORDEN T2108

39%

When the market has a weak day, it is important to find the stocks that resist the decline. For example, the recent green line break-out stock FOMX, which I have been following,  rose on Tuesday. This is a significant sign of relative strength.

FOMX05262015AMBA also rose.

AMBA05262015

10th day of $QQQ short term up-trend; $AAPL leading market higher; 5 GLB stocks; GLB in IPOs

GMI

5/6

GMI-2

7/8

What is the GMI?
 

WORDEN T2108

50%

With AAPL showing strength, it looks like this market will move higher. Check out AAPL’s daily chart.

AAPL05222015And its strong RWB pattern.

AAPLGMMA05252015

Stocks are breaking through their green line tops to all-time highs. Like SYNA

SYNS05222015

And IMAX

IMAX05222015And MGA

MGA05222015And TCX

TCX05222015And CTRP

CTRP05222015I like to hold stocks that break up through their green line tops (GLB) as long as they stay above their green lines.

A green line top occurs when a stock reaches an all-time high that it does not exceed for at least 3 months. By definition, an IPO may not have existed long enough to rest for 3 months. I rediscovered what Jesse Livermore once wrote. If an IPO opens strong and then recedes from its peak for a few weeks, buy it when it breaks to a new high.  As Jesse said, it means something has changed. FB did this quite a while ago, although it took it almost two years until 2013 (monthly chart) to hit a new high.

FB05222015SHAK flashed the buy signal much more quickly, after 12 weeks (weekly chart). It pays to watch the IPOs for this truncated GLB pattern.

SHAK05222015

The GMI remains at 6 (of 6).

GMI05222015

 

9th day of $QQQ short term up-trend; $NXPI breaking out?

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

53%

I watch NXPI because my stock buddy, Judy, likes the concept.  It could be breaking out of a cup and handle base if it holds Thursday’s lows. (I own it.)

NXPI05212015

NXPI is above its green line break-out (all-time high) and has a strong RWB pattern.

NXPIGMMA05212015

8th day of $QQQ short term up-trend; $GE ready to move up?

GMI

6/6

GMI-2

8/8

What is the GMI?
 

WORDEN T2108

54%

GE is not the type of  stock I typically trade. However, it has a nice dividend yield (about 3.4%) and after that huge gap up in April after it announced a major restructuring, it looks like GE is ready to move up again. I own some and am willing to collect the dividend while I wait for good things to happen. Doesn’t WB own a lot of GE?

GE05202015



© Copyright 2015 Wishing Wealth Blog . Thanks for visiting!