General Market Index (GMI) table

Blog post: GMI turns Green; $QQQ short term down-trend likely to end on Monday; GLBs last week to ATH: $CRM, $EVR, $APP, see weekly charts.

@ 10:57 pm
GMI5/6
GMI-25/9
T210857%

I especially like APP because it is a recent IPO and has strong fundamentals. According to MarketSmith, it will move to profitability this year and then is estimated to have earnings up 215% in 2022. Last quarter’s eps +167% and sales +123%. Funds only own 13% of shares. Worth watching now that it has had a GLB.  Earnings due 10/28.

 

SPY has now closed above its 10 week average.

Blog post: See new Rising Stochastics tutorial on Youtube; It is easy to get swept up in a declining market and miss the gems that are already showing strength–they are like a basketballs held under water that will explode up when the market turns up and releases them; Last week there were 10 possible growth stocks that I noticed had a GLB, breaking out to all time highs that I intend to monitor:$BLDR,$FOCS,$LPLA,$MC,$TBBK,$KFRC,$WAL,$UMBF,$SF,$CASH; also watching $UPST for a GLB; here are some charts

@ 12:51 pm
GMI2/6
GMI-24/9
T210848%

By the way, if you search Dr Wish on youtube you can find my TraderLion workshop presentation and a tutorial on putting my green and black dot signals on TC2000 charts. Look for Rising Stochastic Indicators tutorial just completed by my co-instructor.

Weekly charts show stock patterns most clearly. WAL has had a nice cup and small handle break-out.

As BLDR.

And FOCS

And LPLA

And KFRC

I am also watching UPST for a possible GLB. See monthly chart.

The GMI remains on a Red signal but in the past has been slow in catching bottoms. Only 40% of newsletter writers are bullish, down from over 60%. Remember, bottoms often occur in October and 3rd quarter earnings are about to come out. Watch how the market reacts to earnings as an indication of its health.