General Market Index (GMI) table

All 4 stocks are in up-trends with 10wkavg>30wkavg and above $150. These stocks traded below their bottom 15.2 daily Bollinger Bands anytime in the last 7 days and now are above their exponential 21 day averages. Check out their daily and weekly charts. If I bought any I would sell immediately after a likely close below that moving average or the lower Bollinger Band. As an example, here is the daily chart of ZTS. Note its GLB (green line break-out) in June and the black dot signals. An alternative place for a stop would be below the low of the bounce day, around 196.96. Remember new traders, you can buy one share and only risk about $5. You have to learn how to manage your losses.

The GMI is at 6 (of 6). QQQ has closed above its 10 week average for 12 straight weeks. I still fear the coming month of September and remain very cautious.

I see few media articles discussing a government shut down in October. Here is an exception. While a lifting of the debt limit may eventually be passed by Democrats  as part of a reconciliation bill, I would not rule out hysteria about it until then. This could add to market volatility the next few months along with  a resurgent pandemic. For all of these reasons and the “air pockets” in leading stocks last week I am getting very defensive in my trading accounts……

Still, some stocks are strong. For example, this weekly chart shows that DXCM broke out  with a GLB last week.

MITK had a beautiful GLB and cup and handle pattern.

And PKI followed through on its recent GLB.

But this daily chart shows AAPL sitting on its green line. If it closes back below it will be a significant omen for the market.

Meanwhile, the GMI remains Green and at 6 (of 6).