Dr. Wish

While IBD announces new market up-trend after a follow through day on Wednesday, the daily Guppy chart still shows a BWR down-trend. A close (dotted line) above all of the blue lines (longer averages), currently around 192, would suggest a possible change in trend. More meaningful would be if all of the red lines could rise above the blue lines in an RWB up-trend pattern.

Select stocks hitting an ATH on Wednesday: AMED, SHEN, AXP, MSI, LHCG, UNH, OMCL, VCRA, GBCI, YETI, HELE. YETI reports earnings on Thursday.

Another high volume GLB to an ATH (see glossary). Who doesn’t like Cracker Barrel?! Earnings beat!

QQQ remains in a daily BWR down-trend.

When the market is weak it is easier to find potential new leaders. Any stock that can come through the recent market weakness at an ATH is worth researching for purchase when the market trend turns up. Someone is accumulating them. Note each had a recent GLB (green line break-out, see glossary) and all have recent quarterly earnings up 25% or more.