Blog post: Day 2 of $QQQ short term down-trend but 378 new highs among US stocks; Non QQQ type stocks still rising; 4 oversold bounce (OSB) stocks: $PCH $DELL $BSIG $TBK

GMI5/6
GMI-23/8
T210857%

The QQQ showed strength at end of day Thursday. I found some strong stocks having an oversold bounce. These include: DELL, TBK, PCH and BSIG. All are above their green line tops and near their ATHs.  If I buy an OSB stock I sell immediately if the bounce fails. Their daily charts:

 

Blog post: Day 1 of new $QQQ short term down-trend; but stocks outside of QQQ are doing much better; exit pandemic benefitting stocks entering Stage 4 declines like $PTON, $DOCU and $ZM

GMI5/6
GMI-24/8
T210857%

With the QQQ in a short term down-trend I am wading into SQQQ. I will be more sure of the down-trend if it reaches 5 days. One of the first rules I teach my students is to hold only stocks in a Weinstein Stage II up-trend. Pandemic stocks like PTON and DOCU and ZM have now entered Stage IV declines. That means they are below their declining 30 week moving average (red solid line in these weekly charts). The big money is made holding stocks in Stage II up-trends. This rule alone could keep most people out of trouble.