GMI rebounds to 5; can market hold? SSYS, SRCL green line charts

GMI5/6
GMI-24/8
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The GMI has rebounded to 5 (of 6) and if it holds on Monday, the GMI will give a buy signal.   The market has been   erratic and IBD switched to “market in a confirmed up-trend” last last week.   I closed out my shorts and have made a few buys. This could merely have been end-of-month buying and it will be interesting to see if August will hold the gains. After earnings are out, the market often calms down until the beginning of the next quarter’s earnings announcements, sometime in late October or November.   Remember, the Sell in May slogan says to buy back into the market around Halloween……

I introduced green line charts last week. I scanned for stocks hitting a new high Friday and created green line charts for most of them.   I am looking for a stock that hit a 52 week high and is breaking out of a multi-month base towards an all-time high.     An example of what I am looking for is shown in this monthly green line chart of SSYS. This stock is probably worth researching. One important factor to look for is the next earnings release date. Click on chart to enlarge.

 

 

SRCL is one of those stocks hitting a 52 week high that is just below its green line top ($95.71).   I placed an alert in TC2000 to tell me if SRCL trades above 95.

 

4 thoughts on “GMI rebounds to 5; can market hold? SSYS, SRCL green line charts”

  1. I noticed that you only put the actual GMI chart up on the web site every few days while you give the scores every day. Is there a reason for this? I’m sorry I wasn’t able to attend AAII. Are any of those materials available?

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