Head and shoulders top pattern still intact. Check out this weekly chart of AAPL. (Click to enlarge.) Note the declining 30 week average (red line). Is AAPL topping out or am I out on a thin limb? Bears love to devour fallen apples…..
Dr. Wish
Dollar in RWB up-trend, oil in BWR down-trend–I trade with the trend
UUP, the dollar ETF, is in a renewed RWB up-trend, likely reflecting higher interest rates in the U.S.
In contrast, oil, measured by USO, remains in a BWR down-trend.
The GMI is back to 6 (of 6).
Happy Thanksgiving—will post next on 12/2.
37th day of $QQQ short term up-trend; $DY–RWB rocket stock
The QQQ is right at resistance, but it looks strong to me.
After a GLB in May and a retest in June and August, DY continues up-trend. It has been number 1 in the IBD50 list and I own it.
Note how much clearer the trend is in a weekly chart.
And even clearer in a GMMA chart showing an RWB rocket pattern.
I prefer an RWB pattern on my modified GMMA chart any day!
Happy Thanksgiving–I will post again on 12/2.