Stock Market Technical Indicators & Analysis
The daily modified Guppy chart shows that the QQQ RWB up-trend remains intact. QQQ is also in a longer term weekly RWB up-trend. RWB means that the shorter term averages (red) are all rising above the longer term averages (blue) with a white space between them. The dotted line is the closing price for the selected period. ATH=all-time high. I am still holding some TQQQ.
All short term averages (Red lines) are now rising above the longer term averages (blue) with a white band separating them= RWB up-trend. I am slowly accumulating $TQQQ but will exit immediately when short term up-trend ends.
The GMI is Green and at 6, of 6.
On Day 1 of a new short term up-trend it is very difficult psychologically to go long immediately because the market, by definition, had recently been declining. It is tempting to drive with one’s hands on the rear view mirror instead of the steering wheel. So I will add a little TQQQ and accumulate more if the new up-trend persists. In a long up-trend TQQQ beats more than 95% of individual stocks. Search my blog for the evidence. About 20% of new short term up-trends end within 5 days. But the GMI table below also shows many promising signs. With the GMI=6, it will likely flash a GREEN signal on Tuesday. I will be without a computer this week and will still try to tweet out if there is a change in the short term trend. Some time for a vacation before my fall class. Sign up to get my tweets on X, @wishingwealth.
