Stock Market Technical Indicators & Analysis
The shorter averages (red) are now declining below the longer averages (blue) with a white space between them. Hence the BWR down-trend. The dotted line is the daily close. Time to be on the sidelines in my trading accounts. My university retirement funds remain in mutual funds, for now.
It is possible to find some new leaders to trade. But with most of the former leaders weakening, it is best for me to be mainly in cash. For me, a rising launched rocket is one that climbs continually above its rising 5 day EMA. I use TC2000 to find stocks that have had a GLB, are hitting all-time highs, and that are finding support at their rising 5 day EMA. When the market straightens out I will show some of these scans and how I trade them. There is a tab on this blog with a discount coupon for TC2000.
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.
