Dr. Wish

For the first time since its green line break-out last April, TSLA may close below its critical 10 week average (dotted blue line). Other danger signs are closing down 3 weeks out of the last 4 on elevated volume (red bars) and the weekly MACD histogram has turned negative (red), revealing weakening momentum.   TSLA bounced from oversold levels on Thursday.   If TSLA closes below yesterday’s low of 162.83, I would expect more of a decline. If it holds this level then I think it is a shake-out, to be followed by a resumption of the up-trend. Pre-market, TSLA is up. It remains in a Stage 2 longer term up-trend, with support around 123 (red line). Earnings are expected on Nov. 5. What do you think? (Click on chart to enlarge.)

I have been writing about ONVO   since January 18, when it was around $4.28.   It is the primary company in the area of 3D printing of human tissues.   While ONVO is very speculative, I hold a small position in case it is successful.   There is a lot of volume coming into it of late because of some terrific liver test results recently released. Note the huge daily up volume recently and the Bollinger Band break-out. Click on chart to expand.

For the past two years   the Dark Liquidity site has been tracking the performance of the GMI compared with other strategies.   The strategy that uses the GMI to buy and sell the leveraged 2X QQQ ETF has consistently beaten all other strategies.   Check out the GMI components and the buy and sell signals there too. A link to the site (http://dark-liquidity.com/) also appears to the lower right of my site.   I use the GMI to time positions in the 3X QQQ ETF, TQQQ. Past performance is no guarantee of future performance, but it has worked prospectively for me.

Not all green line break-outs succeed. I was stopped out of ARMH on Tuesday.   Meanwhile, BIIB broke above its green line again. IBD recently wrote about BIIB. Will it hold this time? (Click on chart to enlarge.)

T2108 broke 80% on Tuesday.   The market is becoming over-bought. Check out this weekly chart of T2108.

I just noticed an article by perma-bear Paul Farrell talking about a huge roaring 20’s type of bull market. I thought it was an April Fools stunt because he has been writing hysterically about an economic and market collapse for some time.   Is this for real?   Could his conversion to the bull side be a major sign of a coming market top????   Or is this all just a journey into sarcasm with Paul predicting a 1929 style crash?