Hit ATH + up at least 50% from 250 days ago: $MKC $FTSV $ENSG $KL $SEND $VCRA $DATA $CHD $UBNT $TWLO $CASY $NFEC


While I remain on the side lines in cash, it is always useful to monitor the few stocks that can hit an all-time high (ATH) during a market decline. That is a demonstration of  remarkable technical strength. The great trader, Nicolas Darvas, liked to focus on stocks breaking out to ATH that had already doubled in the past year. Of these 12, the ones that have at least doubled are: ENSG, SEND, UBNT, TWLO, FTSV, NFEC.

GMI=2, stays Red; Cash is king


The QQQ closed (dotted line) back below all 12 averages in the daily Guppy chart.

As did the SPY.

Will the prior lows hold? For now, cash is king! The time to be invested is when the red lines are rising above the blue lines (daily RWB pattern), as was the case for the QQQ most of the time since 2017.

And the weekly Guppy chart shows very clearly that the longer term trend of the QQQ has changed, with the weekly RWB up-trend pattern gone.