General Market Index (GMI) table

Blog Post: Day 16 of $QQQ short term up-trend; Buy $TQQQ on day 1 of this up-trend and it advanced through Friday, +29.5%, beating all but 4 of the Nasdaq 100 stocks and all but 3 of the S&P500 stocks–same incredible results again! See chart

@ 7:27 pm
GMI6/6
GMI-26/9
T210877%

I confess I did buy some TQQQ at the beginning of the new QQQ short term up-trend (green arrow on chart) and posted about it, but allowed myself to get shaken out on 1/19  (red arrow) and did not buy back in. Not buying back in compounded my first mistake. I need to let my computer trade for me because I let myself be shaken out even though my objective rules said that the short term up-trend was still intact :-(. See the daily chart of TQQQ below.

TQQQ even beat all but 4 of the 668 stocks in my aggregate watchlist of recent IBD50 and MarketSmith Growth 250 stocks! If you search my blog on “TQQQ” you will find that I have replicated this analysis and found similar results for years. Maybe it just does not pay for me to try to find winning individual stocks when I can just buy the 3x leveraged ETF, TQQQ. By the way, I also found 16 leveraged ETFs that beat TQQQ!  TSLL, CONL and KOLD were each up over 80%! Remember, however, these leveraged ETFs fall much faster than the underlying index or security when the trend reverses down, so you need a really good exit strategy, especially one better than mine!

 

The GMI signal remains Green at 6 (of 6). It flashed Green at the close on January 13. I post my QQQ short term trend count in the table below and on each almost daily blog post.

 

 

Blog Post: Day Day 11 of $QQQ short term up-trend; GMI=6 (of 6) and Green; 25 stocks at ATH on Friday, see list for possible market leaders plus example charts of $BWMN and $WIRE

@ 11:05 pm
GMI6/6
GMI-26/9
T210876%

I remember long before the internet that the major media typically called a bear market bottom or bull market top about 6 months after it had occurred. It took that long for the editors to believe a major change in trend. So we cannot trust the pundits to tell us when to get in or out of the market. However, my objective GMI indicator suggests that it may be time to wade back into the market. When the GMI is 6 (of 6) it is likely that a longer term up-trend has begun. Don’t dwell on  the news. The market turned up at the end of March, 2020 near the beginning of the pandemic while most people remained skeptical and were too scared to enter. If we focus on the Fed, the debt crisis and refunding of the government and the war, we have many reasons to stay out. However, as I hear pundits saying to stay away from tech stocks and to invest in income stocks instead, it makes me think a new bull market for growth stocks is on the horizon.

Below is a list of stocks on my IBD/MarketSmith watchlists that reached an ATH on Friday. The list is sorted by earnings release date. Somewhere on this list are some major market leaders. Time to research and monitor them.

One stock not on this watchlist that has a very interesting weekly chart is BWMN. It is a recent IPO and had a GLB (green line break-out to an ATH) recently. As long as it closes above the green line, 22.82, it is a successful GLB. (I could not resist taking a very small position.)

Another interesting chart with a GLB is $WIRE.

 

The GMI is 6 (of 6) and Green.