Notice all short term averages (red) are declining below the longer term averages (blue), hence BWR pattern.
Dr. Wish
Blog post: See new Rising Stochastics tutorial on Youtube; It is easy to get swept up in a declining market and miss the gems that are already showing strength–they are like a basketballs held under water that will explode up when the market turns up and releases them; Last week there were 10 possible growth stocks that I noticed had a GLB, breaking out to all time highs that I intend to monitor:$BLDR,$FOCS,$LPLA,$MC,$TBBK,$KFRC,$WAL,$UMBF,$SF,$CASH; also watching $UPST for a GLB; here are some charts
By the way, if you search Dr Wish on youtube you can find my TraderLion workshop presentation and a tutorial on putting my green and black dot signals on TC2000 charts. Look for Rising Stochastic Indicators tutorial just completed by my co-instructor.
Weekly charts show stock patterns most clearly. WAL has had a nice cup and small handle break-out.
As BLDR.
And FOCS
And LPLA
And KFRC
I am also watching UPST for a possible GLB. See monthly chart.
The GMI remains on a Red signal but in the past has been slow in catching bottoms. Only 40% of newsletter writers are bullish, down from over 60%. Remember, bottoms often occur in October and 3rd quarter earnings are about to come out. Watch how the market reacts to earnings as an indication of its health.
