The GMI is back to 6 (of 6) for the first time since August 10th. With so many great stocks breaking out, maybe this rally will continue. Thursday was the 3rd day of the current QQQQ short term up-trend. I am gradually going long on individual stocks and on the ultra long QQQQ ETF, QLD. QLD aims to move 2x as much as the QQQQ. This leverage can, of course, cut both ways. I posted about TTM a while ago. It looks to me like it may be getting ready to break to new highs.
on the daily chart TTM could be making a large double top and on the weekly chart it just gave a sell signal. do you only look at price? you may be right but the risk reward on TTM looks all wrong to me right now…FWIW.
really like your blog and appreciate all your work.
best.
TTM has broken to an all-time high on large monthly volume. If it breaks 23, I think it is a buy. This is why they call it a market. Let’s see which prediction is accurate!