General Market Index (GMI) table

19th day of $QQQ short term up-trend; $CYBR may break-out, $HACK has

@ 9:55 pm
GMI5/6
GMI-25/9
T210837%

I am very interested in stocks that come public, form a base and then break to new highs. CYBR is getting close to breaking out. It is close to a green line break-out. It may even be completing a cup and handle base, as seen in this weekly chart. With so many hacking events hitting the news, it may mean good business for cyber-security firms. Judy has been talking about CYBR for some time.

CYBR05052015As an alternative to single stocks, there is a new ETF for cyber-security firms, HACK. HACK had a strong week last week.

HACK06052015

The GMI remains strong and the longer term up-trend remains intact. But note that the SPY has closed below its 10 week average. Tech stocks are outperforming. Will SPY or QQQ lead the market?

GMI06052015

 

14th day of $QQQ short term up-trend

@ 6:27 am
GMI5/6
GMI-26/9
T210837%

Some signs of short term weakening are appearing. First, a lot of my holdings were rapidly climbing. When that happens the market is often near a short term sell-off. Second, I find that the QQQ and AAPL are up against resistance and thus more likely to retreat than to advance. Lastly, I have noticed that the market tends to be strong at the end of the month and then weak at the beginning of the new month. I therefore took some money off of the table on Friday afternoon. I do not want to give back a lot of my recent profits.

The GMI has now weakened a little to 5 (of 6) and the more sensitive GMI2 is at 6 (of 8).

 

GMI05292015

10th day of $QQQ short term up-trend; $AAPL leading market higher; 5 GLB stocks; GLB in IPOs

@ 10:21 pm
GMI5/6
GMI-27/9
T210850%

With AAPL showing strength, it looks like this market will move higher. Check out AAPL’s daily chart.

AAPL05222015And its strong RWB pattern.

AAPLGMMA05252015

Stocks are breaking through their green line tops to all-time highs. Like SYNA

SYNS05222015

And IMAX

IMAX05222015And MGA

MGA05222015And TCX

TCX05222015And CTRP

CTRP05222015I like to hold stocks that break up through their green line tops (GLB) as long as they stay above their green lines.

A green line top occurs when a stock reaches an all-time high that it does not exceed for at least 3 months. By definition, an IPO may not have existed long enough to rest for 3 months. I rediscovered what Jesse Livermore once wrote. If an IPO opens strong and then recedes from its peak for a few weeks, buy it when it breaks to a new high.   As Jesse said, it means something has changed. FB did this quite a while ago, although it took it almost two years until 2013 (monthly chart) to hit a new high.

FB05222015SHAK flashed the buy signal much more quickly, after 12 weeks (weekly chart). It pays to watch the IPOs for this truncated GLB pattern.

SHAK05222015

The GMI remains at 6 (of 6).

GMI05222015