Stock Market Technical Indicators & Analysis
It is possible that the prior winners have gone to extremes and that other stocks are having their day before the entire market drops? Best for me to own little, have close stops and wait for Mr. Market to reveal his intentions. The gold and silver and mineral stocks are bouncing from oversold. Will they retake their ATHs? Note the Blue Dot of Happiness, oversold bounce, on Friday on QQQ. Resistance is at the 2.15 upper Bollinger Band.
I was amazed to find so many other stocks doing well while the former tech leaders are weakening. Even the equal weighted QQQ (QQQE) is weak. Forget the tech stocks and former leaders until they hit ATHs again. There is still time for me to ride the new winners. Even DIA hit an ATH on Wednesday! The question remains, however, whether the wipe out in the former tech leaders will eventually spread to the other stocks. I use close stops so I exit at the first sign of weakness.
GLD has had several Blue Dot of Happiness signals that led to tradable bounces. Will this one too? See my TraderLion Conference 2025, Day 6 presentation for a description of the Blue Dot of Happiness. I am very worried by the weakness in tech stocks and QQQ, evidenced by the GMI2=2.
