My stock buddy, Judy, brought ALAB to my attention. It had an IPO, formed a green line top, and surpassed it on super high volume on Tuesday, after reporting earnings. Will it hold? Must not close below green line, at 95.21. By the way, so did PLTR.
Blog Post: Day 1 of $QQQ short term down-trend; GMI declines to 1 (of 6) and could flash Red on Monday; Markets appear very dangerous.
Next week we have an election and the Fed’s decision on interest rates. My indictors weakened substantially last week. I am in cash and TBIL in my trading accounts. TBIL is an ETF that holds 1-3 month treasury bills. The pundits do not agree on the market’s near term direction. As the saying goes, you could line up all economists in the world end to end and they still would never reach a conclusion. Rather than focus on opinions, I focus on the action of the market. So now, things are weak.
