Dr. Wish

Blog Post: Day 22 of $QQQ short term down-trend; After the recent bounce we see if indexes can hold March lows; see daily modified Guppy chart of $QQQ and its ominous 10:30 weekly chart

@ 11:20 pm
GMI1/6
GMI-25/9
T210829%

We knew there would be a bounce back up from the large March decline. The key to the market’s direction will be whether the indexes can hold their March lows and retake their recent highs. See the modified daily Guppy chart of QQQ. Time will tell, but for now QQQ  remains in a BWR decline.

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The 10 week average (blue dotted line) is close to declining below the 30 week average (red solid line), an ominous development. Note that QQQ has closed the gap below the 4 week average and is thus no longer oversold.

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Blog Post: Day 19 of $QQQ short term down-trend; With my GMI=0 (of 6), there is no reason for me to be investing long; I found only 2 US stocks of 6,000 at an ATH on Friday; the odds are against my going long; and small stocks, $IWM, look on verge of Stage 4 decline, see weekly chart

@ 4:51 pm
GMI0/6
GMI-22/9
T210824%

When the 30 week average curves down, it means the current week’s close just added  is less then its close 31 weeks earlier that has just been dropped from the average. Think of it, IWM is now lower than it was 31 weeks ago! For me this pattern is the kiss of death that got me to exit stocks before the major declines in 2000 and 2008.  Last week, IWM rebounded to kiss its 4 wk average (red dotted line). Let’s see if it can close back above it this week. That would be a sign of strength. If not, there is an inverse ETF for IWM, TWM, but I must be nimble. if I should nibble.

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What a weak market! When the Worden  indicator, T2108, now 24%, falls below 10%, I might nibble at a little SPY, but not individual stocks, some of which may not come back..

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Blog Post: Day 18 of $QQQ short term down-trend; Two exchange stocks, $ICE and $CME have been reaching ATHs after their GLBs, see adapted daily Guppy and monthly charts.

@ 7:27 pm
GMI1/6
GMI-23/9
T210828%

It is noteworthy when two stocks in a similar industry are zooming to ATHs in a weak market. Note their green lines and that they each closed (dotted line) above all 12 averages, in RWB up-trends. Note earnings release dates on each chart, 4/23 and 5/1. Check them out, and monthly charts below.

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And monthly charts.

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