I am still expecting weakness after earnings reporting period is over.
Dr. Wish
14th day of QQQ short term up-trend; 14 stocks at new highs with great earnings
GMI remains on a Buy signal with all six components positive. The following 14 stocks hit a new high on Thursday and had 100%+ earnings increases in the most recent quarter.
13th day of QQQ short term up-trend; becoming more cautious
GMI remains at 6 (of 6) and on a Buy signal. Nevertheless, I see some weakness developing. Once earnings are out, there is little to propel stocks higher as we go into a lull period and the often weaker September/October period. I am getting more cautious as I see air pockets develop in some stocks, as happened Wednesday in IRBT. The bull rise also finally got around to the laggards like AAPL and FB. I do not think this is the time to take on new long positions.