Dr. Wish

Blog Post: Day 12 of $QQQ short term up-trend; $AGX had GLB 4 weeks ago and a weekly green bar setup last week; it must hold last week’s low

@ 9:27 pm
GMI6/6
GMI-27/9
T210867%

I teach my students that if they miss buying at the time of a GLB, a possible place to buy is when the stock subsequently has a weekly green bar setup. This means that the 4wk>10wk>30 wk and the 4 wk is rising and it had a 20 week high in RS (SPY). The stop loss would be placed just below that week’s low. This assumes one also likes the fundamentals.

The GMI remains 6 (of 6) and on a Green signal.
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Blog Post: Day 11 of $QQQ short term up-trend; My stock buddy, Judy, taught me that when the weekly price bar is floating above its rising 4 wk average it can be a sign of being extended, see examples in this chart of $GLD

@ 7:25 pm
GMI6/6
GMI-27/9
T210863%

Note the floating bars in the circles. Is GLD extended now? Time will tell. I do not initiate purchases when a rising stock shows this pattern. Stocks often return to the 4 wk average and kiss it or form a top after the week of the float.

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Blog Post: Day 9 of $QQQ short term up-trend; $NFLX closes at ATH after GLB; see daily and monthly charts; I tweeted this break-out intraday @wishingwealth

@ 9:29 pm
GMI6/6
GMI-27/9
T210866%

Follow my tweets during the day and see what I am seeing. NFLX closed above its green line top on volume a little above its 50 day average volume. It closed near its day’s high.

Here is its monthly chart. A stock that can make it all the way back to its 2021 top is showing maximum buying interest. Prior green lines are in orange. To be a successful Green line break-out (GLB) it must not close back below its top green line (@700.99).
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