Stock Market Technical Indicators & Analysis
Dr. Wish GMI remains at 6 but T2108 is in overbought territory, at 84%. Fourteen stocks came up on my 52 week high with good earnings scan:
CMG,TCO,WPZ,ASPS,HIBB,SIX,LECO,WYN,PZZA,AIT,CALM,FWRD,SE,INTC
TCO appears to be a RWB stock breaking from a base. Click on chart to enlarge.
GMI and GMI-2 remain at 6 (of 6). While the Worden T2108 is high, at 84%, this up-trend still looks strong. I am 100% invested in mutual funds in my university pension. My trading accounts hold long positions. I am gradually accumulating index ETF’s. The GMI buy signal has been in place since December 23rd. Since that day, the QQQ has advanced +6.6%, the QLD is up +13.5% and the TYH is up +19.5%.
With the Worden T2108 at 83% and 95% of the Nasdaq 100 stocks closing above their 30 day averages, I am reluctant to take on more long positions now. I am selling calls on long positions and waiting for a drop to support to increase my long positions. Longer term up-trend is up but I suspect we are in for the usual post-earnings release lull.