I will present on Wednesday for the first time at the MoneyShow virtual event. It is free to register here and you will receive a recording if you miss the live event. Just prior to my presentation, Les masonson will present about his new book using a TQQQ trading strategy similar to the one I have posted about. This book taught me a lot about the QQQ ETF.
I know the market is volatile, as it reacts to every new twist and turn in the Iraq war. Still, with the GMI= GREEN, I am tiptoeing into the strongest stocks. As I will describe in Wednesday’s talk, I am focusing on the few stocks each day that trade at an ATH (all-time high). The GMI is weighted toward those stocks. On Friday, 152/6407 US stocks reached an ATH. That is 2.3%! To me, that indicates these stocks are showing extremely high relative strength. These stocks beat 98% of all US stocks. I focus on the minority of these stocks that had a GLB Friday or last week.
I found that 32 of the 152 stocks were banks, followed by 20 that were in the semiconductor sector. I found that AMD had a GLB last week. See its weekly chart. A close below the green line @267.08 would constitute a failed GLB and require me to exit if I had a position. Other stocks with a high volume GLB last week include: DELL, MRVL, CLS, see their charts below.
The GMI=6 and GREEN.
