Daily 10.4 stochastic is similarly overbought for DIA and SPY and IWM. Arrows show green dot signals (oversold daily stochastic cross) where advances have begun.
Dr. Wish
GMI= 2 (of 6) and on a Red signal, indexes up against resistance; GLB: $DORM and $FN
During this down-trend there are still a few growth stocks (about 10) hitting all-time highs (ATH). DORM is one, as shown by this weekly chart. Note last week’s above average volume at the Green Line Break-out (GLB, see blog glossary). I wrote about FN last week.
The indexes are right up against resistance after the snap back rally. Daily stochastics are very over bought. This week should tell whether we re-test the lows or break through.
