General Market Index (GMI) table

Blog post: 13th day of $QQQ short term down-trend; Revised OSB (oversold bounce) scan yields $GS and $BGFV

@ 10:49 pm
GMI3/6
GMI-25/9
T210851%

I revised my OSB scan. It detects stocks near a recent ATH that have bounced from an over-sold level. Here are two I think are promising as long as the bounce lows hold. Note the black and green dot signals. Did you know that GS has a PE=8!!! And GS has an IBD comp rating=98.

 

The GMI remains on a Red signal. Even though SPY and DIA are doing well, QQQ is weak. This is a very difficult time to be in the market profitably. Much easier to trade growth stocks when the GMI is Green and consistently  registering 5 or 6.

Blog post: GMI rebounds to 4 and could turn Green on Monday; However, $QQQ closed below its 10 week average. Critical week coming; $CROX $YETI $PLBY have black dots signaling OSBs

@ 6:33 pm
GMI4/6
GMI-23/9
T210854%

A large number of stocks had an OSB (oversold bounce) on Friday, 56/602 IBD/MarketSmith type growth stocks and 166/6222 of all US stocks. So did DIA and SPY. It remains to be seen whether these bounces will hold. Here are a few examples. Note the black dots indicating an OSB. They all recently traded at ATHs (all-time highs).

The GMI rose to 4 and could turn Green if it closes above 3 on Monday. The key is to wait until it happens and to resist acting in advance of the signal,  which may not come. The QQQ completed its 8th day (D-8) of its short term down-trend.

Blog post: $QQQ short term down trend may end Monday with up/flat day; 525 yearly highs in US stocks Friday, most since March 15; 17 OSBs (oversold bounces) listed including $WMS $ALGN and $ASGN

@ 11:20 pm
GMI5/6
GMI-24/9
T210860%

These 17 stocks passed my scan for stocks with recent ATHs that bounced up from oversold levels. Note that JCOM and APG report earnings this week. These stocks are provided to teach the method and are not recommendations. Study their charts and review their fundamentals. If a bounce fails, I sell immediately.

 

WMS,  ALGN and ASGN  are good examples. Note black dots indicating oversold bounces.

The GMI is 5 (of 6) and remains on a Green signal.