I am back and there has been little change in my indicators. All indicators remain positive.
Dr. Wish
GMI declines to 5.
I have a speaking engagement in NYC on Friday and will post again next Monday night. There is very little possibility that the GMI could issue a Sell signal by then. Still, with earnings season ending I am getting more defensive and expecting some weakness into the fall.
22nd day of QQQ short term up-trend; XONE shines
Tuesday was a high volume down day for the QQQ. IBD now sees the “uptrend under pressure.” A lot of stocks I watch are over-bought. With earnings announcements coming to a close, stocks will probably rest or decline through the typically weak months of September and October. I am raising stops and becoming more defensive. XONE had a good day on above average volume. I own some. It is scheduled to report earnings on August 13. It is in the red hot 3D printing industry. My sell stop is just below 64. If XONE does not hold today’s gain I may exit sooner. Click on chart to enlarge.
