Stock Market Technical Indicators & Analysis
Dr. Wish Markets remain in an up-trend. Adding to QLD. QCOR, which I wrote about in June, had a nice day on Monday, up 14.75%. Check out this monthly chart, where the green lines show the tops of each base. QCOR, which came up in my Darvas Scan, recently broke out of its latest base. Click on chart to enlarge.
With the GMI at 6, I am still willing to hold a small long position in QLD and several other stocks. Here comes second quarter earnings!
Be careful with the release of jobs report Friday morning. Market remains in up-trend, but we could get some quick weakness and then come back strong next week going into 2nd quarter earnings. The T2108 remains at 81%, a very high level. The rise in AAPL and GOOG masked weakness in the Nasdaq 100 stocks. Only 36% of them rose on Thursday.