Blog Post: Day 21 of $QQQ short term up-trend; 127 US stocks at yearly highs, 46 at ATHs and 70 new lows; Recent IPO, $MRX, has doubled without ever forming a green line top! Check out its monthly and weekly charts

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MRX has IBD comp=EPS=99 and RS=96. It never rested at least 3 months for me to be able to draw in a green line! It has already doubled in 11 months, as this monthly chart shows.

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The weekly chart shows the typical pattern of a strong stock. Since August, it has closed mostly above its 4 wk average (pink dotted line) and its 4 wk average has closed above its 10 week average. These are the characteristics of a rising stock. Possible entries occur with a bounce up off of the 4wk or 10 wk avg (blue dotted line). The 10 wk avg is rising above the 30 wk avg (red line), indicating a Weinstein Stage 2 up-trend.

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