The rally continues, with 7 new highs and 106 new lows in my universe of 4,000 stocks on Thursday. The T2108 is now out of oversold territory, at 21%. The GMI-R is now up to 2 (of 10). The QQQQ completed the 18th day of its short term down-trend. This rally is still occurring within a major long term down-trend. Two stocks that I own are AMZN and NFLX.
Rally continues, but only 7 new highs of 4,000. So, are you really saying that this week’s strong rally reflect long-term confidence in the market, or that people are unwinding of short trades to replace what they shorted?
For those of us who use Telechart, would you mind describing your Darvas filter/screen? Thanks.