Stock Market Technical Indicators & Analysis
During this down-trend there are still a few growth stocks (about 10) hitting all-time highs (ATH). DORM is one, as shown by this weekly chart. Note last week’s above average volume at the Green Line Break-out (GLB, see blog glossary). I wrote about FN last week.
The indexes are right up against resistance after the snap back rally. Daily stochastics are very over bought. This week should tell whether we re-test the lows or break through.
You can learn about the green dot indicator in my prior posts. It is a daily 10.4 stochastic cross and indicated by a green dot on the price chart and the arrow on the stochastic chart below. When a stock or index ETF is in a sustained up-trend (QQQ is not) buying on the green dot signal often works for me. During a down-trend one can sometimes also get a tradable bounce. You can access at my TC2000 Club a video showing how to add the green dots to the price chart.
The GMI remains at 0 (of 6) and on a Red signal.
