General Market Index (GMI) table

Day 16 of $QQQ short term up-trend; GMI remains GREEN, see table. 25 stocks traded at an ATH on Friday, 6 were oil&gas and 4 were software firms. One software firm, PLTR, had a GLB on Friday, see daily and monthly charts and my analysis .

@ 8:53 pm
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GMI-26/9
T210825%

PLTR closed above its Green line at 207.52 on Friday on above average trading volume. To be a successful GLB, it must not CLOSE below 207.52.  Earnings are scheduled to be released on 11/2. PLTR has already doubled from its lowest price the past 250 days. PLTR has been tracking along its 5 day EMA and is now outside its upper 15.2 Bollinger Band. It may trade back at the 5 EMA.

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Monthly chart shows its last GLB was in November 2024 at 44.91, not a bad place to have purchased it! I change a Green line to orange when it is surpassed by a subsequent one. I will discuss GLBs during my upcoming presentation on the MoneyShow on 10/20.

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GMI is only 3 but is still on a GREEN signal. Note there were more US stocks reaching yearly new highs than lows on Friday.

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Day 11 of $QQQ short term up-trend, its Weekly 10.4 Stochastic= 86, a sign of a strong up-trend, see GMI table; ARW had a nice high volume GLB to an ATH, see daily chart.

@ 9:34 pm
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GMI-26/9
T210821%

I think this market is strengthening into 3rd quarter earnings. Many down markets have bottomed in October. Remember to “come back at Halloween.” So there were 35 stocks at an ATH on Friday and one of them, ARW,  was a high volume GLB.  A GLB must not CLOSE below its green line. If it does I sell it immediately. For ARW, the green line is at 237.33. Rather than using a physical stop on a GLB I have purchased, I look at it each day around 3:45 PM to see whether it will likely close below the green line. Many successful GLBs trade intraday below the green line but rally to close above it and I would have wanted to retain it. In such a case a stop loss below the green line might have sold me out even though it closed back above the line. I only want to sell it immediately if a GLB closes back below the green line. If it closes below the green line and then closes back above it I may buy it back. I will discuss GLBs on my MoneyShow talk on October 20.

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