General Market Index (GMI) table

My class is now learning how to use the setups I use. One of those setups is a weekly green bar setup. On a weekly chart, the bar is painted green if the stock has the 4w avg>10wkavg>30wkavg and the 4 wk avg this wk is greater than the 4 wk avg last week. The set up also requires the stock to have bounced up off of the 4 week average and to close higher than the prior week’s close. If I use this set up to buy I will place a stop loss below the week’s low price or its 10 week average. I ran a scan of stocks on my growth watchlist and came up with 18 stocks that met there criteria. I also want the stock to have doubled from its low the past year. I also required each to have a daily and weekly RWB pattern in the modified Guppy chart and to have hit an ATH in the past 12 weeks. Here are the 18 stocks that passed this scan and a weekly and monthly chart of one as an example. Note all of the green weekly bars and the prior GLB. FTAI has been on quite a run. When will it end?

And the GLB last August.

My 10:30 weekly chart shows that QQQ has regained strength and is riding above its 10 and 30 week averages.

I cannot remember a time when the GMI declined so quickly. When it turns RED at Monday’s close, both of my short and longer term indicators for QQQ will be indicating a decline. While QQQ is now below its 10 week, 30 day and 30 week averages, it is still in a Weinstein Stage 2 up-trend, for now. The 10/30 weekly chart below shows this. If the 10 week average closes below the 30 week average and the 30 week average curves down, I will begin to exit the mutual funds in my conservative university pension accounts. In 2000, 2008 and 2022, a declining 30 week average helped me to exit the market BEFORE the real decline began. In the past, a reading below 10% in T2108 has been where markets have often bottomed.

In this 10/30 weekly chart, the gray line tracks the weekly close, the dotted line is the 10 week average and the red line is the 30 week average.