AAPL has been RWB since December and is currently 12/6/6. Note AAPL has not closed below its 6 red lines since December. Why should anyone have sold during this period? Hence the value of the daily RWB strategy–it keeps me in rising stocks.
Dr. Wish
75th day of $QQQ short term up-trend; $QQQ rebounds to 12/6/6; $CC also
This daily RWB chart shows that QQQ has regained its 12/6/6 status. It closed above all of its red and blue lines. Furthermore, QQQ came up in my rebound from oversold scan. Possible stop losses are at 130.91 or 130.02. Check out my post from Monday for a description of this method.
Another stock that came up on this scan and is now 12/6/6 is CC which rose on above average volume. QQQ and CC look like replicas of each other!
74th day of $QQQ short term up-trend; $UUP (1/0/0) falls and $GLD (12/6/6) rises; GLB: $VEEV (12/6/6)
A lot of my stocks rose nicely on Monday and I was therefore surprised to see that most stocks did not do well. I found more stocks at new lows than new highs and only 49% of U.S. stocks rose. The T2108 was unchanged. So I think we may be seeing the end of quarter mutual fund window dressing when they beef up their portfolios with the strongest stocks. Three of the four FANG stocks rose ( AMZN, NFLX, GOOGL but not FB). If this is window dressing, look for weakness by the end of this week. The dollar (UUP) remains in a BWR decline (1/0/0).
And GLD is in a RWB up-trend (12/6/6). As the dollar declines, it takes more of them to buy an ounce of gold.
Meanwhile, VEEV had a nice GLB on Monday with strong technical readings (12/6/6). (Read my prior post and my glossary to learn what these counts mean.)
Here is its daily RWB chart. Note the triple digit (+114%) earnings last quarter and that VEEV has already doubled over the past year. If I bought VEEV here, my stops would be around 48.13 (lowest red line) or 46.58 (highest blue line). (See my prior post for a description of my strategy.)
