Dr. Wish

It is noteworthy when two stocks in a similar industry are zooming to ATHs in a weak market. Note their green lines and that they each closed (dotted line) above all 12 averages, in RWB up-trends. Note earnings release dates on each chart, 4/23 and 5/1. Check them out, and monthly charts below.

And monthly charts.

I told you that when a declining stock has its weekly high far below its declining 4 wk avg (red dotted line) the stock usually converges back with the average. That is happening thise week with the major indexes. See oval in this chart of SPY. It is likely that once the two kiss, the decline could resume. The 4 wk average declining below the 30 week average (red solid ine)  is another major sign of technucal weakness. The daily adapted Guppy chart reveals a steep  BWR down-trend.

Sometimes we have to look beyond US stocks. Europe is growing. Note EWG’s recent GLB. I have a small position.