Stock Market Technical Indicators & Analysis
Dr. Wish While growth stocks are getting hit, the market trend remains up. This is the time for me to have patience and to hold very small long positions, if any. Recent GLB ABG held up nicely on Tuesday. But OLED and SHAK were hit, along with CMG and MCD. What is ailing fast food stocks? GLB CCMP was strong on Tuesday.
A set up I like is when a stocks breaks above its green line top (GLB) and on a weekly chart has just bounced up above its 10 week average. OLED is such an example. Dotted line= 10 week average.
I also like a 10 week bounce to a new high on a stock that is above its last green line top. COUP is an example of this set up.
If I buy these set ups I sell if it closes back below its 10 week average or the weekly low of the bounce.
With the GMI strong, it is time to look for GLBs.
