Generated by All in One SEO v4.9.8, this is an llms.txt file, used by LLMs to index the site. # Wishing Wealth Blog Stock Market Technical Indicators & Analysis ## Posts - [Blog Post: Day 37 of $QQQ short term up-trend; see list of 10 doublers that reached an ATH on Wednesday, and the daily charts of $BLDR and $PHM show my new OSB indicator](https://wishingwealthblog.com/2023/06/blog-post-day-37-of-qqq-short-term-up-trend-see-list-of-10-doublers-that-reached-an-ath-on-wednesday-and-the-daily-charts-of-bldr-and-phm-show-my-new-osb-indicator/) - These stocks from my IBD/MS watchlist all at least doubled their lows the past year. See list sorted by last column, close/low price past 250 days. Note the predominance of construction stocks. This daily chart shows my new oversold bounce (OSB) indictor, designated by a black dot. Note also the green line break-out (GLB) last - [Blog Post: 86 US new highs, 10 lows and 35 at ATH; Day 36 of $QQQ short term up-trend; see list of 13 doublers at ATH, 4 are in residential construction](https://wishingwealthblog.com/2023/06/blog-post-86-us-new-highs-10-lows-and-35-at-ath-day-36-of-qqq-short-term-up-trend-see-list-of-13-doublers-at-ath-4-are-in-residential-construction/) - These 13 stocks are on my IBD/MS watchlist of promising stocks, reached an ATH Tuesday and have at least doubled their yearly lows. Interesting that 4 of 13 are in residential construction. Perhaps investors are betting on lower mortgage rates in the near future. This list is sorted by the last column, close today/lowest price - [Blog Post: Here is an explanation of how I compute new US highs and lows each day and used it to exit in 11/2021; the GMI is 6 (of 6)](https://wishingwealthblog.com/2023/06/blog-post-here-is-an-explanation-of-how-i-compute-new-us-highs-and-lows-each-day-and-used-it-to-exit-in-11-2021-the-gmi-is-6-of-6/) - I tweeted a few days ago about my analysis of new highs and lows and how it helped me to exit the market in November, 2021. I received many questions about how I compute these statistics and thought I would show you. I have created a New High and a New Low column in TC2000, - [Blog Post: Day 34 of $QQQ short term up-trend; 146 US new highs, 18 lows and 50 at ATHs; 2 stocks at ATH after recent GLB: $AMPH and $ORCL, see daily and monthly charts](https://wishingwealthblog.com/2023/06/blog-post-day-34-of-qqq-short-term-up-trend-146-us-new-highs-18-lows-and-50-at-aths-2-stocks-at-ath-after-recent-glb-amph-and-orcl-see-daily-and-monthly-charts/) - A green line break-out (GLB) in a strong market can sometimes be the beginning of a big move. AMPH and ORCL broke above their green lines and have gone on to a series of ATHs (all time highs). Look for stocks that hit an ATH and then have rested for at least 3 months. When - [Blog Post: Day 32 of $QQQ short term up-trend; $DIA finally moving up--in daily RWB up-trend, see chart](https://wishingwealthblog.com/2023/06/blog-post-day-32-of-qqq-short-term-up-trend-dia-finally-moving-up-in-daily-rwb-up-trend-see-chart/) - [Blog Post: Day 30 of $QQQ short term up-trend; If one had bought $TQQQ on Day 1 of the $QQQ short term up-trend (on 4/28/23) and held it, by Friday it had advanced 29.6% and would have beaten all but 6 of the Nasdaq 100 stocks, see my analysis and a list of the few that beat it](https://wishingwealthblog.com/2023/06/blog-post-day-30-of-qqq-short-term-up-trend-if-one-had-bought-tqqq-on-day-1-of-the-qqq-short-term-up-trend-on-4-28-23-and-held-it-by-friday-it-had-advanced-29-6-and-would-have-beaten-all-but/) - If one can ride a sustained up-trend in the QQQ with TQQQ, it is possible to beat almost all other stocks. From day one of the QQQ short term up-trend that I announced on 4/28, TQQQ has advanced 29.6%. Only six of the Nasdaq 100 stocks did better. See this list, ranked by performance from - [Blog Post: Day 29 of $QQQ short term up-trend; 120 US new highs and 8 lows, 45 at ATH; While many people fear the market this is exactly the time I enter; see 10:30 weekly charts of $QQQ and $SPY showing Stage 2 up-trend gaining momentum](https://wishingwealthblog.com/2023/06/blog-post-day-29-of-qqq-short-term-up-trend-120-us-new-highs-and-8-lows-45-at-ath-while-many-people-fear-the-market-this-is-exactly-the-time-i-enter-see-1030-weekly-charts-of-qqq-and-spy-show/) - See the 10 week average (dotted line) rising above the rising 30 week average (red line). Gray line is weekly close. - [Blog: Day 3 of $QQQ short term up-trend and GMI=6 and Green. This weekly chart of QQQ shows its current strength as it continues in a Stage 2 up-trend.](https://wishingwealthblog.com/2026/08/blog-day-3-of-qqq-short-term-up-trend-and-gmi6-and-green-this-weekly-chart-of-qqq-shows-its-current-strength-as-it-continues-in-a-stage-2-up-trend/) - [Blog: Day 2 of $QQQ short term up-trend; GMI turns Green! Slowly adding TQQQ, but will be more confident and invested if/when we reach Day 5 of the new up-trend. QQQ also remains in a Weinstein Stage 2 up-trend.](https://wishingwealthblog.com/2026/08/blog-day-2-of-qqq-short-term-up-trend-gmi-turns-green-slowly-adding-tqqq-but-will-be-more-confident-and-invested-if-when-we-reach-day-5-of-the-new-up-trend-qqq-also-remains-in-a-weinstein-stag/) - The technical signal that got me out of the market in 2000 and 2008 was when QQQ closed below its 30 week average and that average curved down. That is obviously not the case right now. I sometimes have to grit my teeth, hold my breath and follow the trend shown in my charts. If - [Day 1 of $QQQ short term up-trend; Modified daily Guppy chart of QQQ no longer shows BWR down-trend. Is an RWB up-trend on deck? Stay tuned.](https://wishingwealthblog.com/2026/08/day-1-of-qqq-short-term-up-trend-modified-daily-guppy-chart-of-qqq-no-longer-shows-bwr-down-trend-is-an-rwb-up-trend-on-deck-stay-tuned/) - This has been an an incredibly difficult market in which to trade profitably. New short term up-trends often fail within 5 days. If this new up-trend can get past 5 days, we might see a significant tradable rise. The GMI is still Red but could turn Green on Thursday. Watch to see whether QQQ can - [Blog: Day 20 of $QQQ short term down-trend; GMI=2, see table; QQQ is below its 4wk and 10wk average but is holding its critical 30 wk average, see weekly chart.](https://wishingwealthblog.com/2026/08/blog-day-20-of-qqq-short-term-down-trend-gmi2-see-table-qqq-is-below-its-4wk-and-10wk-average-but-is-holding-its-critical-30-wk-average-see-weekly-chart/) - This week is critical for telling us whether QQQ will hold. It remains in a Stage 2 up-trend, above its rising 30 week average. But it may retest its last green line break-out at 637.01. A weekly close below that level would be a major sign of weakness. A GMI of 2 is too weak - [Blog: Day 19 of $QQQ short term down-trend; Look at the daily modified Guppy chart. Was Thursday a dead cat bounce? The market's action will reveal the answer during the post earnings season period.](https://wishingwealthblog.com/2026/07/blog-day-19-of-qqq-short-term-down-trend-look-at-the-daily-modified-guppy-chart-was-thursday-a-dead-cat-bounce-the-markets-action-will-reveal-the-answer-during-the-post-earnings-season-period/) - [Blog: Day 18 of $QQQ short term down-trend; If I had bought SQQQ on Day 1 of the down-trend, I would be sitting on a gain of +29%. See the daily chart of SQQQ.](https://wishingwealthblog.com/2026/07/blog-day-18-of-qqq-short-term-down-trend-if-i-had-bought-sqqq-on-day-1-of-the-down-trend-i-would-be-sitting-on-a-gain-of-29-see-the-daily-chart-of-sqqq/) - I wish I had the discipline to trade the triple leveraged ETFs, TQQQ and SQQQ, based on my QQQ short term trend count. - [Blog: $IMAX had a high volume GLB (green line breakout) on July 23rd when they reported earnings, and closed Tuesday at an ATH. Homer would be proud, and rich......](https://wishingwealthblog.com/2026/07/blog-imax-had-a-high-volume-glb-green-line-breakout-on-july-23rd-when-they-reported-earnings-and-closed-tuesday-at-an-ath-homer-would-be-proud-and-rich/) - [Blog: Modified Daily Guppy chart shows the current trend for $QQQ. QQQ is very oversold with Friday's SFS (super fast stochastic) below 10. So QQQ may bounce this week. GMI remains RED, however. See Guppy charts for QQQ, AAPL, JNJ and the GMI table.](https://wishingwealthblog.com/2026/07/blog-modified-daily-guppy-chart-shows-the-current-trend-for-qqq-qqq-is-very-oversold-with-fridays-sfs-super-fast-stochastic-below-10-so-qqq-may-bounce-this-week-gmi-remains-red-however-see/) - Modified Guppy chart tells the story. Best time to trade QQQ type stocks is when the index is in a RWB up-trend with all Red shorter term averages climbing well above the Blue longer term averages with a White space between them. The RWB pattern was evident from mid-April to early June and trading break-outs - [Blog: Day 14 of $QQQ short term down-trend; UGA, the U.S. gasoline fund had an ATH today and a GLB last March. See weekly and monthly charts.](https://wishingwealthblog.com/2026/07/blog-day-14-of-qqq-short-term-down-trend-uga-the-u-s-gasoline-fund-had-an-ath-today-and-a-glb-last-march-see-weekly-and-monthly-charts/) - UGA tracks gasoline futures. This is an interesting ETF in current times. I missed the GLB in March because I don't regularly scan ETFs for GLBs. Is the ETF about to run out of gas????? (I couldn't resist this pun.) Here is its monthly chart. Prior green line was changed to orange. - [Blog: Day 13 of $QQQ short term down-trend; TESLA and GOOGL had BWR down-trends in their daily modified Guppy charts and swooned tonight. A BWR down-trend may predict bad earnings news. See their charts and NFLX.](https://wishingwealthblog.com/2026/07/blog-day-13-of-qqq-short-term-down-trend-tesla-and-googl-had-bwr-down-trends-in-their-daily-modified-guppy-charts-and-swooned-tonight-a-bwr-down-trend-may-predict-bad-earnings-news-see-their-char/) - Stocks often top out before their earnings do. It may be a good idea to check a daily modified Guppy chart before holding through earnings. TSLA and GOOGL declined tonight after market when their earnings were released. Look at their charts. Both have their red, shorter term, averages declining below their blue, longer term averages, - [Blog: Day 12 of $QQQ short term down-trend; there was a blue dot oversold bounce on Friday setting up the recent rally, see daily chart; the GMI flashes RED.](https://wishingwealthblog.com/2026/07/blog-day-12-of-qqq-short-term-down-trend-there-was-a-blue-dot-oversold-bounce-on-friday-setting-up-the-recent-rally-see-daily-chart-the-gmi-flashes-red/) - Note the oversold bounce on last Friday signified by the blue dot. This is the earnings release rally I had been expecting. But there were only 83 new highs and 30 ATHs, very pitiful. The post earnings release period wlll be very interesting, if not scary. Note that the GMI has flashed RED. - [Blog: Day 11 of $QQQ short term down-trend; GMI=1 and could flash Red Tuesday. This modified daily Guppy chart clearly contrasts the current market environment with that during the wonderful May rally. I am mainly in cash in my trading accounts.](https://wishingwealthblog.com/2026/07/blog-day-11-of-qqq-short-term-down-trend-gmi1-and-could-flash-red-tuesday-this-modified-daily-guppy-chart-clearly-contrasts-the-current-market-environment-with-that-during-the-wonderful-may-rally/) - I am very worried about the strength of the current market. There are times for me to step away. If growth stocks announcing good earnings this week weaken, I fear that the markets are in for a steep decline. Too many young persons who have only been trading for a short time will learn the - [Blog: Day 10 of $QQQ short term down-trend; as expected, QQQ found support at lower 15.2 daily Bollinger Band; See how modified daily Guppy chart would have gotten you out of NFLX well before its post-earnings swoon last week. GMI=3](https://wishingwealthblog.com/2026/07/blog-day-10-of-qqq-short-term-down-trend-as-expected-qqq-found-support-at-lower-15-2-daily-bollinger-band-see-how-modified-daily-guppy-chart-would-have-gotten-you-out-of-nflx-well-before-its-pos/) - QQQ might bounce this week but still looks technically weak. Last Friday it did have a blue dot signifying an oversold bounce. Note the 30 day average, solid red line, is curving down, a major sign of weakness. NFLX has been in a daily BWR decline since May. Always monitor the daily modified Guppy chart.There - [Blog: Day 8 of $QQQ short term down-trend; QQQ is still in a consolidation, see daily chart and modified Guppy chart.](https://wishingwealthblog.com/2026/07/blog-day-8-of-qqq-short-term-down-trend-qqq-is-still-in-a-consolidation-see-daily-chart-and-modified-guppy-chart/) - All shorter term averages (red lines) are compressed, showing little change over the past 15 days. - [Blog: Day 6 of continuing $QQQ short term down-trend; Technical weakness resumes but QQQ has not broken out of its current consolidation yet.](https://wishingwealthblog.com/2026/07/blog-day-6-of-continuing-qqq-short-term-down-trend-technical-weakness-resumes-but-qqq-has-not-broken-out-of-its-current-consolidation-yet/) - QQQ was down on higher volume Monday than Friday and the 30 day average is curving down, a major sign of weakness. QQQ also closed below its 50 day average (green dotted line). Will QQQ find support at its lower Bollinger band (@700) again? We must react and not predict. Wait for Mr. Market to - [Blog: Day 5 of $QQQ short term down-trend, could turn up on Monday; GMI=3 but GMI2=7 see Table; QQQ might break out of its consolidation this week with earnings, see daily chart.](https://wishingwealthblog.com/2026/07/blog-day-5-of-qqq-short-term-down-trend-could-turn-up-on-monday-gmi3-but-gmi27-see-table-qqq-might-break-out-of-its-consolidation-this-week-with-earnings-see-daily-chart/) - The coil is constricting between the upper and lower 15.2 daily Bollinger Bands. Note the several failed blue dot oversold bounces. Which way will QQQ break out? Stay tuned. Earnings season is upon us. The GMI=3 but the GMI2 of some more sensitive shorter term measures is =7. And QQQ's Stage 2 longer term up-trend - [Blog: Weekly chart shows QQQ strengthens yet again!!!! QQQ short term trend could also turn up Friday. Spy has behaved better, compare their weekly charts.](https://wishingwealthblog.com/2026/07/blog-weekly-chart-shows-qqq-strengthens-yet-again-qqq-short-term-trend-could-also-turn-up-friday-spy-has-behaved-better-compare-their-weekly-charts/) - This weekend we shall see if this comeback has held. I focus largely on QQQ which reflects tech and growth stocks. SPY has been somewhat stronger recently, only closing below its 10 week average one week, see its weekly chart. - [Blog: Day 3 of $QQQ short term down-trend; Only 14 stocks at ATHs, 8 of them are biotechs, see list! Even biotech ETF, IBB, had a recent GLB, see chart! Why are $$$ going into biotechs?](https://wishingwealthblog.com/2026/07/blog-day-3-of-qqq-short-term-down-trend-only-14-stocks-at-aths-8-of-them-are-biotechs-see-list-even-biotech-etf-ibb-had-a-recent-glb-see-chart-why-are-going-into-biotechs/) - This list is sorted by close Wednesday divided by minimum low the past 250 days. MPLT has a null result because it came public within the past year and the division could not be calculated for its price over the past 250 days. ALMS is 9.2x its low the past year. IBB had a high - [Blog: Day 2 of $QQQ short term down-trend; QQQ may close this week below 4 wk and 10 wk averages, see weekly chart; Modified daily Guppy chart clearly shows the recent whipsaws.](https://wishingwealthblog.com/2026/07/blog-day-2-of-qqq-short-term-down-trend-qqq-may-close-this-week-below-4-wk-and-10-wk-averages-see-weekly-chart-modified-daily-guppy-chart-clearly-shows-the-recent-whipsaws/) - I own a little SQQQ and am mainly in cash in my trading accounts. I have been whipsawed many times the past 2 weeks. This is not the time for me to place large bets. The daily modified Guppy chart shows the lateral back and forth moves in QQQ since early June. It was so - [Blog: Back to $QQQ short term down-trend, whipsawed yet again. Protecting capital as QQQ is beneath 4 wk and 10 wk averages.](https://wishingwealthblog.com/2026/07/blog-back-to-qqq-short-term-down-trend-whipsawed-yet-again-protecting-capital-as-qqq-is-beneath-4-wk-and-10-wk-averages/) - [Blog: Day 3 of QQQ short term up-trend; GMI=6 and this may be the start of the 2nd quarter earnings rally.](https://wishingwealthblog.com/2026/07/blog-day-3-of-qqq-short-term-up-trend-gmi6-and-this-may-be-the-start-of-the-2nd-quarter-earnings-rally/) - [Blog: Of the 146 stocks at ATHs on Wednesday, more than one half were banks! 376 US stocks hit 52 week highs, the most since February 6! See daily chart of Regional Banking ETF.](https://wishingwealthblog.com/2026/07/blog-of-the-146-stocks-at-aths-on-wednesday-more-than-one-half-were-banks-376-us-stocks-hit-52-week-highs-the-most-since-february-6-see-daily-chart-of-regional-banking-etf/) - Maybe interest rates are going higher? More money for banks? Today was Day 2 of the new QQQ short term up-trend. I do not know if it will last with the turn away from tech stocks. Happy and safe 4th! - [Blog: Day 1 of a new $QQQ short term up-trend; all GMI components are positive; QQQ and SPY retake their 10 week averages! See weekly chart of QQQ and my analysis.](https://wishingwealthblog.com/2026/06/blog-day-1-of-a-new-qqq-short-term-up-trend-all-gmi-components-are-positive-qqq-and-spy-retake-their-10-week-averages-see-weekly-chart-of-qqq-and-my-analysis/) - I have written before that about 40% of QQQ short term down-trends do not last 5 days. I therefore buy a little SQQQ on Day 1 and wait to see if the down-trend continues. I sold SQQQ and bought some TQQQ today and will accumulate more if the new up-trend continues. New short term up-trends - [Blog: Day 3 of $QQQ short term down-trend; QQQ and SPY are now below their 10 week averages; MAG 7 ETF in daily BWR down-trend, see chart and GLD's blue dot bounce.](https://wishingwealthblog.com/2026/06/blog-day-3-of-qqq-short-term-down-trend-qqq-and-spy-are-now-below-their-10-week-averages-mag-7-etf-in-daily-bwr-down-trend-see-chart-and-glds-blue-dot-bounce/) - The growth stocks that drove this market higher are now faltering. The Mag 7 stocks are in decline, as shown by their ETF, below. On the other hand, there were 364 new 52 week highs among US stocks on Friday, the most since last February. I suspect the growth stocks have had their ride and - [Blog: Day 2 of new $QQQ short term down-trend; A lot of key stocks are technically weak. Look at daily Guppy chart since June. Will stocks resume up-trend with 2nd Quarter earnings?](https://wishingwealthblog.com/2026/06/blog-day-2-of-new-qqq-short-term-down-trend-a-lot-of-key-stocks-are-technically-weak-look-at-daily-guppy-chart-since-june-will-stocks-resume-up-trend-with-2nd-quarter-earnings/) - We had many US stocks at 52 week highs and at ATHs on Thursday. But QQQ and SPY are weakening.The daily Guppy chart shows the lateral movement in QQQ, compared with the nice prior up-trend. In early July, when 2nd quarter earnings come out we may see a rise, or we may not. Just in - [Blog: Day 7 of $QQQ short term up-trend, it may end Wednesday, but longer term trend remains up, see chart.](https://wishingwealthblog.com/2026/06/blog-day-7-of-qqq-short-term-up-trend-it-may-end-wednesday-but-longer-term-trend-remains-up-see-chart/) - Gray line shows close. A close below 4 wk is first sign of weakness. Let's see if 10 week average holds. We may be in the post earnings release weakness period which might end in July with the 2nd quarter earnings period. - [Blog: Day 6 of $QQQ short term up-trend; GMI= 6 (of 6). Market remains in short and longer term uptrends.](https://wishingwealthblog.com/2026/06/blog-day-6-of-qqq-short-term-up-trend-gmi-6-of-6-market-remains-in-short-and-longer-term-uptrends/) - I must fly by instrument and the instruments say the trends are up. - [Blog: Day 1 of new $QQQ short term up-trend; All GMI components are positive. Short and longer term trends are up. But Mag7 stocks are weak, see daily Guppy chart of MAGS.](https://wishingwealthblog.com/2026/06/blog-day-1-of-new-qqq-short-term-up-trend-all-gmi-components-are-positive-short-and-longer-term-trends-are-up-but-mag7-stocks-are-weak-see-daily-guppy-chart-of-mags/) - I am back from a short trip. During that time the QQQ short term up-trend ended after 43 days, then began a 2 day down-trend and then started a new up-trend on Friday. As difficult as it is for me to accept, my instruments are strongly positive. I fly by instrument. It is time to - [Blog: Day 43 of $QQQ short term up-trend, it could end on Wednesday; Longer term up-trend remains, see weekly chart. QQQ has found support at its rising 10 week average, but is below its 4 week. Note how long it held its rising 4 week average, quite a rally.](https://wishingwealthblog.com/2026/06/blog-day-43-of-qqq-short-term-up-trend-it-could-end-on-wednesday-longer-term-up-trend-remains-see-weekly-chart-qqq-has-found-support-at-its-rising-10-week-average-but-is-below-its-4-week-note/) - I will post again this weekend. Best for me to stay out now until this volatility settles down. I am a chicken. - [Blog: Day 41 of $QQQ short term up-trend, it may end on Monday; Longer term up-trend still intact., GMI=6 (of 6).](https://wishingwealthblog.com/2026/06/blog-day-41-of-qqq-short-term-up-trend-it-may-end-on-monday-longer-term-up-trend-still-intact-gmi6-of-6/) - The GMI remains GREEN at 6. - [The same chart pattern I posted yesterday for the 2000 top also got me out of the market just before the 2008 decline. Market tops take time to develop. I ignore the news and gossip and watch the 30 week average.](https://wishingwealthblog.com/2026/06/the-same-chart-pattern-i-posted-yesterday-for-the-2000-top-also-got-me-out-of-the-market-just-before-the-2008-decline-market-tops-take-time-to-develop-i-ignore-the-news-and-gossip-and-watch-the-30-w/) - The media pundits who say that the markets now look like the 2002 or 2008 tops don't understand technical analysis. Outside of the one day in October, 1987 when there was a 20% drop, significant market tops take time to develop. Yesterday's post showed the 2000 market top and the contrasting current benign weekly chart - [HOW I IDENTIFIED AND EXITED AT THE MARKET TOP IN 2000--WHEN THE 30 WEEK AVERAGE CURVED DOWN. TO IDENTIFY A LIKELY TOP, I JUST WATCH THE 30 WEEK AVERAGE. Compare the weekly charts of QQQ from 2000 and now.](https://wishingwealthblog.com/2026/06/how-i-identified-and-exited-at-the-market-top-in-2000-when-the-30-week-average-curved-down-to-identify-a-likely-top-i-just-watch-the-30-week-average-compare-the-weekly-charts-of-qqq-from-2008-and/) - This signal helped me to get out at the beginning of of all major declines since 2000. Here are the 2000 top and today's chart. Gray line is weekly price closes. Thank you Stan Weinstein for teaching me stage analysis. I got defensive in April 2025 until the 30 week resumed its rise. Compare these - [Blog: Day 36 of QQQ short term up-trend; I am amazed how strongly advancing stocks and ETFs may track along their 5 day exponential moving average, see daily charts of QQQ and DELL.](https://wishingwealthblog.com/2026/05/blog-day-36-of-qqq-short-term-up-trend-i-am-amazed-how-strongly-advancing-stocks-and-etfs-may-track-along-their-5-day-exponential-moving-average-see-daily-charts-of-qqq-and-dell/) - One can design steups for trading based on the 5 day EMA. The 5 day EMA> 21 day EMA > 30 day SMA and ? Look at this chart and create your rules. I may look for bounces up off of the rising 5DEMA. See these daily charts of QQQ and DELL. The GMI remains - [Blog Post: Day 32 of QQQ short term up-trend; GMI=5 (of 6) and GREEN. 15 of 62 stocks reaching ATH on Friday were semiconductors. They lead again and 5 had a GLB! See list and note earnings release dates.](https://wishingwealthblog.com/2026/05/blog-post-day-32-of-qqq-short-term-up-trend-gmi5-of-6-and-green-15-of-62-stocks-reaching-ath-on-friday-were-semiconductors-they-lead-again-and-5-had-a-glb-see-list-and-note-earnings-release-da/) - Theses 15 stocks traded at an ATH (all-time high) on Friday. Five had a GLB last week: NVTS, NXPI, GFS, ALAB, SKYT. Check them out and draw in their green lines according to the rules I specified at my recent presentation to the MoneyShow. Any that CLOSE below their green line, I would consider to - [Blog Post: Day 31 of QQQ short term up-trend; $ALAB holds GLB, see daily chart. Must not close below 262.90. Note high volume on break-out.](https://wishingwealthblog.com/2026/05/blog-post-day-31-of-qqq-short-term-up-trend-alab-holds-glb-see-daily-chart-must-not-close-below-262-90-note-high-volume-on-break-out/) - [Blog Post: Day 29 of QQQ short term up trend; Only 29 US stocks reached ATH on Tuesday, 0 were semiconductors, but 13 were oil/gas related, 3 had recent GLB: PBT, PBA, USAC. $COST also had GLB!](https://wishingwealthblog.com/2026/05/blog-post-day-29-of-qqq-short-term-up-trend-only-29-us-stocks-reached-ath-on-tuesday-0-were-semiconductors-but-13-were-oil-gas-related-3-had-recent-glb-pbt-pba-usac-cost-also-had-glb/) - See high volume GLB for PBA , daily and monthly charts. PBA is tracking its 5 day EMA and must not close below its Green line @48.89. Still, buying a GLB in a market with few stocks hitting ATHs is more risky. The GMI-2=4 is also suggesting short term weakness. - [Blog Post: Day 27 of $QQQ short term up-trend; Very concerned about market internals and interest rates; New US highs=new lows=97; T2108 down to 40%; TLT declining.](https://wishingwealthblog.com/2026/05/blog-post-day-27-of-qqq-short-term-up-trend-very-concerned-about-market-internals-and-interest-rates-new-us-highsnew-lows97-t2108-down-to-40-tlt-declining/) - While the GMI=5 and GREEN, I am very worried about the market internals. There have been 3 days last week with 100 or more US stocks at new yearly lows, a huge departure from recent times. Theses 3 were the only such days since April 1! Before that the next day with 100 or more - [Blog Post: Day 24 of QQQ short term up-trend; After many techs stocks weakened, $AAPL held its recent GLB and showed relative strength, see daily and weekly charts. So did NVDA and RKLB, charts not shown. GMI=5](https://wishingwealthblog.com/2026/05/blog-post-day-24-of-qqq-short-term-up-trend-after-many-techs-stocks-weakened-aapl-held-its-recent-glb-and-showed-relative-strength-see-daily-and-weekly-charts-so-did-nvda-and-rklb-charts-not-s/) - [Blog Post: Day 23 of QQQ short term up-trend; $RKLB rockets higher after large volume GLB, see its daily chart and also the chart of NASA.](https://wishingwealthblog.com/2026/05/blog-post-day-23-of-qqq-short-term-up-trend-rklb-rockets-higher-after-large-volume-glb-see-its-daily-chart-and-also-the-chart-of-nasa/) - Space stocks are taking off. See RKLB and the new space ETF, NASA. Recent IPO ETF, NASA, has a piece of SpaceX. Look at its huge volume break-out on Monday. - [Blog Post: Day 22 of $QQQ short term up-trend; QQQ 10 wk avg now closes week above 30 wk avg; GMI=GREEN; GLB breakouts are rocketing higher! Ignore the fearful pundits' predictions. Just watch the markets. See the miraculous 5 day EMA post GLB. Charts: QQQ, INTC, AMD, CHAT.](https://wishingwealthblog.com/2026/05/bog-post-day-22-of-qqq-short-term-up-trend-qqq-10-wk-avg-now-closes-week-above-30-wk-avg-gmigreen-glb-breakouts-are-rocketing-higher-ignore-the-fearful-pundits-predictions-just-watch-the-ma/) - The 10 week average is finally back above its 30 week average and 4wk>10wk>30 wk, 4wk avg=red dotted line. This is a powerful up-trend to ride. However, because QQQ closed the week so far above its 4wk average, I would not be surprised to see this week some retracement to kiss the 4 wk average, - [Blog Post: Day 21 of $QQQ short term up-trend; Recent IPO, LIFE, has high volume follow through after its recent GLB, up 32%.](https://wishingwealthblog.com/2026/05/blog-post-day-21-of-qqq-short-term-up-trend-recent-ipo-life-has-high-volume-follow-through-after-its-recent-glb-up-32/) - [Blog Post: Day 19 of $QQQ short term up-trend; 10:30 weekly chart of QQQ shows 10 week average back above rising 30 week average--a major sign of strength.](https://wishingwealthblog.com/2026/05/blog-post-day-19-of-qqq-short-term-up-trend-1030-weekly-chart-of-qqq-shows-10-week-average-back-above-rising-30-week-average-a-major-sign-of-strength/) - The many media pundits saying that the market is extended like in 2000 or 2008 are trying to scare us out of the market. In each of these prior tops, my indicators alerted me to get out before the large declines occurred. Right now, QQQ looks to be in a strong up-trend with the 10 - [Blog Post: Day 17 of $QQQ short term up-trend; INTC has successful GLB while NVDA has a failed GLB, see daily charts; chart of NBIS looks promising.](https://wishingwealthblog.com/2026/05/blog-post-day-17-of-qqq-short-term-up-trend-intc-has-successful-glb-while-nvda-has-a-failed-glb-see-daily-charts-chart-of-nbis-looks-promising/) - INTC looks strong thus far after its post earnings release high volume GLB, but NVDA has had a failed GLB. Let's see if NVDA can retake its green line @212.19 when it reports earnings on 5/20. Also watching NBIS after it has retaken its green line, see daily chart. NVDA may find support near its - [Blog Post: Day 15 of $QQQ short term up-trend; INTC has massive post-earnings gap up and GLB; it broke its ATH set in 2000, see daily and yearly charts.](https://wishingwealthblog.com/2026/04/blog-post-day-15-of-qqq-short-term-up-trend-intc-has-massive-post-earnings-gap-up-and-glb-it-broke-its-ath-set-in-2000-see-daily-and-yearly-charts/) - After earnings were released INTC had a huge volume GLB and gap up. As long as INTC does not close below 75.81, it is a successful GLB. See last week's MoneyShow presentation on this blog's Webinars tab for a discussion of the GLB setup. Broke through internet top set in 2000! Could this be a - [Blog Post: Day 13 of $QQQ short term up-trend; NVDA has GLB, see modified daily Guppy chart and RWB up-trend. Learn about RWB in last week's MoneyShow speech on this blog's Webinars tab.](https://wishingwealthblog.com/2026/04/blog-post-day-13-of-qqq-short-term-up-trend-nvda-has-glb-see-modified-daily-guppy-chart-and-rwb-up-trend-learn-about-rwb-in-last-weeks-moneyshow-speech-on-this-blogs-webinars-tab/) - [Blog Post: Day 12 of $QQQ short term up-trend; AMZN had a GLB on Friday, see charts; The link to last week's MoneyShow presentation is on this blog's webinar tab. Sign up there for my TraderLion MasterClass.](https://wishingwealthblog.com/2026/04/blog-post-day-12-of-qqq-short-term-up-trend-amzn-had-a-glb-on-friday-see-charts-the-link-to-last-weeks-moneyshow-presentation-is-on-this-blogs-webinar-tab-sign-up-there-for-my-traderlion-ma/) - AMZN had an above average volume GLB on Friday. It reports earnings this week. See daily and monthly charts. AMZN must not close below green line @258.60. To see my presentation to the MoneyShow last week where I describe the GLB setup and how I trade it, please go to the Webinars tab on this - [Blog Post: Day 11 of $QQQ short term up-trend; 19 of 109 stocks reaching an ATH on Thursday were in the semiconductor business. Perhaps that is why SOXL is up 135% since 3/31. It also had a GLB.](https://wishingwealthblog.com/2026/04/blog-post-day-11-of-qqq-short-term-up-trend-19-of-109-stocks-reaching-an-ath-on-thursday-were-in-the-semiconductor-business-perhaps-that-is-why-soxl-is-up-135-since-3-31-it-also-had-a-glb/) - Every night I run the stats on stocks hitting ATHs. I wrote a few days ago that semiconductors were the largest industry coming up and that suggested to me that big money was flowing into them. Rather than buying individual stocks that might get hit during earnings season, I bought the 3x leveraged bullish ETF - [Blog Post: Day 10 of $QQQ short term up-trend; MoneyShow went great! Link to come. Semiconductors are red hot. See POET with high volume GLB today, daily, weekly and monthly charts below. Sign up to receive this blog automatically.](https://wishingwealthblog.com/2026/04/blog-post-day-10-of-qqq-short-term-up-trend-moneyshow-went-great-link-to-come-semiconductors-are-red-hot-see-poet-with-high-volume-glb-today-daily-weekly-and-monthly-charts-below-sign-up/) - I will make the link to my MoneyShow presentation available when I receive it. So many semiconductors are reaching ATHs. Check out these daily, weekly and and monthly charts of POET. It must not close below green line @11.00. - [Blog Post: Day 9 of $QQQ short term up-trend; See you at the virtual MoneyShow tomorrow; So many GLBs are profitable. Look at AMD, DELL, CLS, MRVL that I wrote about, and see their daily charts. Tomorrow, I will explain how I found them.](https://wishingwealthblog.com/2026/04/blog-post-day-9-of-qqq-short-term-up-trend-see-you-at-the-virtual-moneyshow-tomorrow-so-many-glbs-are-profitable-look-at-amd-dell-cls-mrvl-that-i-wrote-about-and-see-their-daily-charts-to/) - I hope you will come to my first presentation at the MoneyShow tomorrow at 1:40 PM. Please invite all people you know who may benefit. I will talk for 30 minutes about GLBs and my upcoming course with Richard Moglen of TraderLion. You will be able to reserve a seat for yourself for the future - [Blog Post: Day Day 6 of $QQQ short term up-trend; See you at the MoneyShow virtual event on Wednesday? GMI remains GREEN; see 4 stocks with a GLB last week: AMD,DELL,MRVL,CLS.](https://wishingwealthblog.com/2026/04/blog-post-day-day-6-of-qqq-short-term-up-trend-see-you-at-the-moneyshow-virtual-event-on-wednesday-gmi-remains-green-see-4-stocks-with-a-glb-last-week-amddellmrvlcls/) - I will present on Wednesday for the first time at the MoneyShow virtual event. It is free to register here and you will receive a recording if you miss the live event. Just prior to my presentation, Les masonson will present about his new book using a TQQQ trading strategy similar to the one I - [Blog Post, Day 6 of $QQQ short term up-trend; 10 of the 51 US stocks (out of 6,403) that traded at an ATH on Thursday are listed below; semiconductors are on fire! See list and daily chart of 3x ETF, SOXL.](https://wishingwealthblog.com/2026/04/blog-post-day-6-of-qqq-short-term-up-trend-10-of-the-51-us-stocks-out-of-6403-that-traded-at-an-ath-on-thursday-are-listed-below-semiconductors-are-on-fire-see-list-and-daily-chart-of-3x-etf/) - 3x ETF SOXL had a GLB last Friday. Check it out. - [Blog Post: Day 5 of $QQQ short term up-trend, GMI=6! QQQ has GLB to ATH! When GMI=6, my setups work best. See weekly chart of QQQ.](https://wishingwealthblog.com/2026/04/blog-post-day-5-of-qqq-short-term-up-trend-gmi6-qqq-has-glb-to-ath-when-gmi6-my-setups-work-best-see-weekly-chart-of-qqq/) - I would like to see greater volume with a GLB, but let's see if QQQ can hold 637.01. Time to acquire break-outs. I follow the market, not the news and media pundits. Catch my upcoming presentation at MoneyShow 2026. Register free. - [Blog Post: Day 4 of $QQQ short term up-trend; Gradually buying TQQQ; 213 US new highs and 5 lows; QQQ on way to ATH and GLB, see weekly chart. Get link to my upcoming presentation.](https://wishingwealthblog.com/2026/04/blog-post-day-4-of-qqq-short-term-up-trend-gradually-buying-tqqq-213-us-new-highs-and-5-lows-qqq-on-way-to-ath-and-glb-see-weekly-chart-get-link-to-my-upcoming-presentation/) - None of us are smarter than the market. We should not fight the market, just ride its trend. Learn about the GLB setup at my free MoneyShow 26 presentation on 4/21. It is free and I will talk about the course I am developing with my former extraordinary student, Richard Moglen, at TraderLion. Sign up - [Blog Post: Day 3 of $QQQ short term up-trend; Stocks are breaking out and worth buying. Some stocks with a recent high volume GLB: ANRO, NBIS, VIRT, AEHR, see daily charts.](https://wishingwealthblog.com/2026/04/blog-post-day-3-of-qqq-short-term-up-trend-stocks-are-breaking-out-and-worth-buying-some-stocks-with-a-recent-high-volume-glb-anro-nbis-virt-aehr-see-daily-charts/) - All of these stocks have broken out to ATHs. I will discuss GLBs and how I trade them during my MoneyShow presentation on April 21. Sign up for my free online presentation here. You can also obtain the recording. - [Blog post: Day 2 of $QQQ short term up-trend; GMI turns GREEN; QQQ must hold its 30 week average @607.12; Get the link to my free virtual presentation at the MoneyShow 2026 on April 22.](https://wishingwealthblog.com/2026/04/blog-post-day-2-of-qqq-short-term-up-trend-gmi-turns-green-qqq-must-hold-its-30-week-average-607-12-get-the-link-to-my-free-virtual-presentation-at-the-moneyshow-2026-on-april-22/) - I will discuss the evidence for my GLB (green line breakout) setup during my presentation to MoneyShow 2026 on April 22. Please disseminate this link widely to all who you think will enjoy hearing about my strategies. This link works for emails. This weekly chart of QQQ shows my primary way to gauge its trend. - [Blog Post: Day 1 of $QQQ short term up-trend; GMI=5; 113 US stocks reached an ATH; QQQ retakes 30 week average, but must hold above it to possibly begin a Stage 2 up-trend, but we are not there yet. Also, watch the 10 week average.](https://wishingwealthblog.com/2026/04/blog-post-day-1-of-qqq-short-term-up-trend-gmi5-113-us-stocks-reached-an-ath-qqq-retakes-30-week-average-but-must-hold-above-it-to-possibly-begin-a-stage-2-up-trend-but-we-are-not-there-yet/) - The 30 week average needs to continue to curve up in order to begin a Stage 2 up-trend. As I have written, a down-trend can have QQQ rebound to the 30 week average and then fail. This week's close will be very important.The GMI is still on a RED signal but could flash GREEN on - [Blog Post: Day 41 of $QQQ short term down-trend; $QQQ finishing Stage 3 and may begin Stage 4 decline; I never fight the market's trend. Only young people can wait out a decline and recovery. I believe that Boomers belong on the sidelines, protecting their hard earned savings and investments.](https://wishingwealthblog.com/2026/04/blog-post-day-41-of-qqq-short-term-down-trend-qqq-finishing-stage-3-and-may-begin-stage-4-decline-i-never-fight-the-markets-trend-only-young-people-can-wait-out-a-decline-and-recovery-i-belie/) - QQQ's 10 week average remains below the 30 wk average and the 30 week average is flat. If the 30 week should begin a decline, it will give the stage 4 signal that occurs at the beginning of a major decline. Last week, QQQ retraced to its 4 week average, as expected. I am mostly - [Blog post: Day 40 of $QQQ short term down-trend; Daily modified Guppy chart told you to get out of $RH long before Wednesday's 19% drop. All major indexes remain in BWR down-trends. See $USO RWB up-trend.](https://wishingwealthblog.com/2026/04/blog-post-day-40-of-qqq-short-term-down-trend-daily-modified-guppy-chart-told-you-to-get-out-of-rh-long-before-wednesdays-19-drop-all-major-indexes-remain-in-bwr-down-trends-see-uso-rwb-up-tr/) - Just look at a modified daily Guppy chart before buying or selling. A picture is worth a thousand words, or dollars. Ignore the fundamentals and stories. Just look at the stock's behavior. I am sorry for those who are holding RH. In an up-trend all of the red lines must be rising well above the - [Blog post: Day 39 of $QQQ short term down-trend; GMI=0; $QQQ weekly chart below shows continuing significant down-trend with 4wk avg<10wk avg<30wk avg; waiting for a confirmed new up-trend.](https://wishingwealthblog.com/2026/03/blog-post-day-39-of-qqq-short-term-down-trend-gmi0-qqq-weekly-chart-below-shows-continuing-significant-down-trend-with-4wk-avg/) - I do not reenter the market on the long side until the moving averages indicate an up-trend with the 4wk avg>10wk avg>30wk avg.The rally this week might offer the last chance to get out or trim holdings. Then again, if this is a true bottom I will have plenty of time to get long again. - [Blog Post: Day 37 of $QQQ short term down-trend; GMI=1 and 10 week average closes week below 30 week average, see weekly chart. Stage 4 down-trend likely.](https://wishingwealthblog.com/2026/03/blog-post-day-37-of-qqq-short-term-down-trend-gmi1-and-10-week-average-closes-week-below-30-week-average-see-weekly-chart-stage-4-down-trend-likely/) - Be very careful as we may be at the beginning of a significant Stage 4 down-trend. We may see a retracement to the 4wk average at 583.94. That may be resistance. GMI=1 and remains RED. T2108=19, still above the level where many bottoms have occurred, below 10. - [Blog Post: Day 36 of $QQQ short term down-trend; Indexes are very oversold; QQQ topped out in October, 2025, long before the current war, see weekly chart. End of the war may not change the longer term trend. Modified daily Guppy chart would have had you exit META long before Thursday's debacle, see chart.](https://wishingwealthblog.com/2026/03/blog-post-day-36-of-qqq-short-term-down-trend-indexes-are-very-oversold-qqq-topped-out-in-october-2025-long-before-the-current-war-see-weekly-chart-end-of-the-war-may-not-change-the-longer-ter/) - The Stage 4 down-trend has yet to begin. That is when I typically exited the markets. However, I did not wait for that this time. I am more of a chicken now. The market could have a final rally up to the 30 week, 4 week or 10 week averages. Prior major tops did that - [Blg Post: Day 33 of $QQQ short term down-trend; $QQQ's 10 week average has crossed below its 30 week average, see weekly chart. Beware this likely ominous change in the longer term trend.](https://wishingwealthblog.com/2026/03/blg-post-day-33-of-qqq-short-term-down-trend-qqqs-10-week-average-has-crossed-below-its-30-week-average-see-weekly-chart-beware-this-likely-ominous-change-in-the-longer-term-trend/) - This chart shows Monday's close as this week's close. The cross will be more impressive if it does hold through Friday's close. - [Blog Post: Day 32 of $QQQ short term down-trend; $QQQ 10 week average about to cross below 30 week average. It has been a long time since I have seen such market weakness.](https://wishingwealthblog.com/2026/03/blog-post-day-32-of-qqq-short-term-down-trend-qqq-10-week-average-about-to-cross-below-30-week-average-it-has-been-a-long-time-since-i-have-seen-such-market-weakness/) - The indexes are oversold and we may see a bounce this week. If I was not in cash I would sell into any bounce. Here is the 10:30 weekly chart. The 10 week average is about to cross below the 30 week for the first time since June, 2025. Note the recent high volume weekly - [Blog Post: Day 31 of $QQQ short term down-trend and GMI=GMI2=0; I have been warning you since February 4 that cash was king; And this may still be just the beginning of a major decline. See modified daily Guppy charts of QQQ, SPY, DIA, IWM.](https://wishingwealthblog.com/2026/03/blog-post-day-31-of-qqq-short-term-down-trend-and-gmigmi20-i-have-been-warning-you-since-february-4-that-cash-was-king-and-this-may-still-be-just-the-beginning-of-a-major-decline-see-modified-d/) - I publish this blog to just share with readers what I am doing. I have managed to avoid all major declines since 2000. I would tell my students that if they were crossing the street and saw a car coming towards them at full speed, they should not argue with the truck or assume the - [Blog Post: Day 27 of $QQQ short term down-trend; GMI =0 and RED; More new US 52 week lows than highs; This weekly chart shows possible beginning of an ominous Weinstein Stage 4 down-trend; I remain safely in cash and watching the Worden T2108 indicator. But oversold bounce possible.](https://wishingwealthblog.com/2026/03/blog-post-day-27-of-qqq-short-term-down-trend-gmi-0-and-red-more-new-us-52-week-lows-than-highs-this-weekly-chart-shows-possible-beginning-of-an-ominous-weinstein-stage-4-down-trend-i-remain-s/) - If the 30 week average curves down, it could signal the BEGINNING of a major down-trend. That signal got me out of all large declines since 2000. I refuse to put my $$$ at risk. I do not mind buying back higher if/when the trend turns up. I cannot tolerate a major drawdown in my - [Blog Post: Day 24 of $QQQ short term down-trend; $SPY and $DIA join $QQQ in daily BWR down-trends. Staying long now is fighting the market's trend. See also what a daily RWB up-trend looked like for $QQQ that began in May, 2025. That is the pattern to be long.](https://wishingwealthblog.com/2026/03/blog-post-day-24-of-qqq-short-term-down-trend-spy-and-dia-join-qqq-in-daily-bwr-down-trends-staying-long-now-is-fighting-the-markets-trend-see-also-what-a-daily-rwb-up-trend-looked-like-for/) - When the shorter averages (red) decline below the longer term averages (blue) leaving a white space between them, it is a daily BWR down-trend. I will not hold long positions except money market funds or treasury ETFs (TBIL). Dotted line shows daily closes. This is my modified Guppy chart based on Daryl Guppy's GMMA indicator. - [Blog Post: GMI=0 and Flashes RED! Day 22 of $QQQ short term down-trend; My 10:30 weekly chart below shows QQQ is now below its 30 week average. Look what happened the last time it did so in March, 2025. A major decline may be just beginning. Cash is king!](https://wishingwealthblog.com/2026/03/blog-post-gmi0-and-flashes-red-day-22-of-qqq-short-term-down-trend-my-1030-weekly-chart-below-shows-qqq-is-now-below-its-30-week-average-look-what-happened-the-last-time-it-did-so-in-march-20/) - On February 4th I posted that a new QQQ short term down-trend had begun. QQQ went sideways after that but QQQ may now be entering a longer term Stage 4 down-trend. If it does so, we may be in for a sizable decline. That signal got me out early from the large declines since 2000. - [Blog Post: Day 18 of $QQQ short term down-trend; Aerospace and Defense has most at ATH on Monday, 15 stocks. $DFEN, 3X bullish ETF for aerospace/defense, hit ATH on extremely high volume, after retesting its GLB and forming a cup and handle base, see daily chart.](https://wishingwealthblog.com/2026/03/blog-post-day-18-of-qqq-short-term-down-trend-aerospace-and-defense-has-most-at-ath-on-monday-15-stocks-dfen-3x-bullish-etf-for-aerospace-defense-hit-ath-on-extremely-high-volume-after-rete/) - Every night I use TC2000 to filter 6,300+ US stocks to find those hitting an ATH that day. Sectors with many stocks reaching an ATH are attracting buyers. I only am interested in stocks that have recently reached an ATH. To understand this strategy, look at the evidence I posted in my 2025 TraderLion presentation - [Blog Post: Day 17 of $QQQ short term down-trend; On Friday, 60 stocks reached an ATH: Utilities (12), Gold (7), Oil & Gas (7). Was $$$ flowing into these in anticipation of an IRAN strike? Monday's action should tell us. Fasten your seat belts....](https://wishingwealthblog.com/2026/03/blog-post-day-17-of-qqq-short-term-down-trend-on-friday-60-stocks-reached-an-ath-utilities-12-gold-7-oil-gas-7-was-flowing-into-these-in-anticipation-of-an-iran-strike-mondays/) - I find it useful to look each day at the industries that had the most stocks reaching an ATH. It shows where money managers are buying. Why are utilities leading? Look at this Utilities Sector ETF that reached an ATH on Friday. It had a recent GLB on above average volume. Note how it is - [Blog: Day 12 of $QQQ short term down-trend, but $QQQ held its 30 week average and Green Line; the GMI remains on a Green signal for now. See weekly chart and analysis. The GMI=4, see table.](https://wishingwealthblog.com/2026/02/blog-day-12-of-qqq-short-term-down-trend-but-qqq-held-its-30-week-average-and-green-line-the-gmi-remains-on-a-green-signal-for-now-see-weekly-chart-and-analysis-the-gmi4-see-table/) - $QQQ last week held the 30 week average and the Green Line. It bounced up against its 4 week average. I expect resistance at the 4 wk and/or 10 wk averages. Let's see if it can close back above the 4 wk average this week. If it fails to hold above the recent Green Line - [Blog: Day 9 of $QQQ short term down-trend; GMI could turn RED Wednesday; See ominous weekly chart below.](https://wishingwealthblog.com/2026/02/blog-day-9-of-qqq-short-term-down-trend-gmi-could-turn-red-wednesday-see-ominous-weekly-chart-below/) - I am slowly exiting the markets. QQQ is now resting on support at the Green Line. Past declines often did a few head fakes before the market decline got going. GMI2 is only 1! We could get a bounce to the declining 4 or 10 week averages. That could offer the last chance to exit - [Blog: Day 8 of $QQQ short term down-trend; Utilities had most ATHs (13, see list), followed by Oil&Gas (10)! Rotation away from tech and growth to energy! $QQQ is back to where it was last October, on Green Line top and 30 week average! See weekly chart.](https://wishingwealthblog.com/2026/02/blog-day-8-of-qqq-short-term-down-trend-utilities-had-most-aths-13-see-list-followed-by-oilgas-10-rotation-away-from-tech-and-growth-to-energy-qqq-is-back-to-where-it-was-last-october-o/) - 21% of the 61 US stocks reaching an ATH on Friday were utilities! No wonder the GMI and GMI2, heavily focused on QQQ, are so weak. If many traders are suffering losses and margin calls from the former tech and growth leaders, liquidity could dry up in the rest of the market and we could - [Blog Post: Day 7 of $QQQ short term down-trend; GMI =2, could turn RED Friday; $QQQ enters daily BWR down-trend, see modified Guppy chart; cash is king!](https://wishingwealthblog.com/2026/02/blog-post-day-7-of-qqq-short-term-down-trend-gmi-2-could-turn-red-friday-qqq-enters-daily-bwr-down-trend-see-modified-guppy-chart-cash-is-king/) - The shorter averages (red) are now declining below the longer averages (blue) with a white space between them. Hence the BWR down-trend. The dotted line is the daily close. Time to be on the sidelines in my trading accounts. My university retirement funds remain in mutual funds, for now. - [Blog Post: Day 5 of $QQQ short term down-trend; $XOM stands out as a climbing rocket, see daily chart and details.](https://wishingwealthblog.com/2026/02/blog-post-day-5-of-qqq-short-term-down-trend-xom-stands-out-as-a-climbing-rocket-see-daily-chart-and-details/) - It is possible to find some new leaders to trade. But with most of the former leaders weakening, it is best for me to be mainly in cash. For me, a rising launched rocket is one that climbs continually above its rising 5 day EMA. I use TC2000 to find stocks that have had a - [Very strange readings: GMI=4 but GMI2=1, see Table! Stocks not in QQQ are doing well but tech growth stocks are weaker. $QQQ had a Blue Dot of Happiness oversold bounce on Friday. Such divergence before. Time will tell how this will be resolved.](https://wishingwealthblog.com/2026/02/very-strange-readings-gmi4-but-gmi21-see-table-stocks-not-in-qqq-are-doing-well-but-tech-growth-stocks-are-weaker-qqq-had-a-blue-dot-of-happiness-oversold-bounce-on-friday-such-divergence-bef/) - It is possible that the prior winners have gone to extremes and that other stocks are having their day before the entire market drops? Best for me to own little, have close stops and wait for Mr. Market to reveal his intentions. The gold and silver and mineral stocks are bouncing from oversold. Will they - [Blog Post: Day 1 of $QQQ short term down-trend, BUT 436 new US highs and 112 ATHs; While $SPY and $QQQ weaken, the equal weighted S&P500 ($RSP) hits ATH, see weekly chart! Tech stock weakness is masking the strength in other stocks! Follow the other strong stocks.](https://wishingwealthblog.com/2026/02/blog-post-day-1-of-qqq-short-term-down-trend-but-436-new-us-highs-and-112-aths-while-spy-and-qqq-weaken-the-equal-weighted-sp500-rsp-hits-ath-see-weekly-chart-tech-stock-weakness-is-maski/) - I was amazed to find so many other stocks doing well while the former tech leaders are weakening. Even the equal weighted QQQ (QQQE) is weak. Forget the tech stocks and former leaders until they hit ATHs again. There is still time for me to ride the new winners. Even DIA hit an ATH on - [Blog Post: Day 8 of $QQQ short term up-trend, could turn down Tuesday; The extreme diverse trends and volatility are very troubling. $GLD has another oversold bounce, see daily chart. Will this one work again?](https://wishingwealthblog.com/2026/02/blog-post-day-8-of-qqq-short-term-up-trend-could-turn-down-tuesday-the-extreme-diverse-trends-and-volatility-are-very-troubling-gld-has-another-oversold-bounce-see-daily-chart-will-this-one-wo/) - GLD has had several Blue Dot of Happiness signals that led to tradable bounces. Will this one too? See my TraderLion Conference 2025, Day 6 presentation for a description of the Blue Dot of Happiness. I am very worried by the weakness in tech stocks and QQQ, evidenced by the GMI2=2. - [Blog post: Day 7 of $QQQ short term up-trend; Up-trends are holding for now; After forming a few blue dots, $VIK closed Monday at an ATH! See the daily and monthly charts. Boomers are cruising!](https://wishingwealthblog.com/2026/02/blog-post-day-7-of-qqq-short-term-up-trend-up-trends-are-holding-for-now-after-forming-a-few-blue-dots-vik-closed-monday-at-an-ath-see-the-daily-and-monthly-charts-boomers-are-cruising/) - After becoming oversold and bouncing, VIK reached an ATH on Monday. Many of my Boomer friends are planning cruises and Viking is often talked about. Note this daily chart showing two oversold bounces designated by blue dots. Note the heavy volume on recent advances. The support also occurred near the 50 day average, shown by - [Blog Post Day 6 of $QQQ short term up-trend; But this market is sending out warning signals. Too many investment advisors are bullish and there are too many air pockets in leading stocks. $MSFT has entered a Stage 4 down-trend, see weekly chart. The GMI= 4 and still on a GREEN signal. I will post when/if my major trend indicators turn down.](https://wishingwealthblog.com/2026/02/blog-post-day-6-of-qqq-short-term-up-trend-but-this-market-is-sending-out-warning-signals-too-many-investment-advisors-are-bullish-and-there-are-too-many-air-pockets-in-leading-stocks-msft-has-e/) - IBD reports that the Investors Intelligence poll shows 61.5% of advisors are bullish. This is close to the 5 year high of 64.2% and a level of bullishness that often occurs near market tops. The extreme action of GLD, SLV and MSFT last week was ominous. MSFT has entered a Stage 4 down-trend, see chart. - [Blog Post: Day 3 of $QQQ short term up-trend; $GLD risng as US dollar ($UUP) remains in a swooning BWR down-trend and $GLD is in an RWB up-trend, see daily adapted Guppy charts. Fed to lower rates? Buying a little TQQQ.](https://wishingwealthblog.com/2026/01/blog-post-day-3-of-qqq-short-term-up-trend-gld-risng-as-us-dollar-uup-remains-in-a-swooning-bwr-down-trend-and-gld-is-in-an-rwb-up-trend-see-daily-adapted-guppy-charts-fed-to-lower-rates-bu/) - Perhaps the Fed is going to lower rates again. The dollar is acting like rates are coming down. When interest rates fall, people sell dollars and buy gold. I am slowly buying some TQQQ as the QQQ short term up-trend has now lasted 3 days. I am much more confident of a new up-trend, however, - [Blog Post: Day 1 of new $QQQ short term up-trend; GMI=5 (of 6), see GMI Table; Daily XAVG 5 is the indicator of rockets, see $SMCI in 2024 and $SLV in 2025 as examples.](https://wishingwealthblog.com/2026/01/blog-post-day-1-of-new-qqq-short-term-up-trend-gmi5-of-6-see-gmi-table-daily-xavg-5-is-the-indicator-of-rockets-see-smci-in-2024-and-slv-in-2025-as-examples/) - I have found that the 5 day exponential moving average, XAVG 5, is an excellent indicator of a climbing rocket. I I scan for stocks with a a recent GLB (green line break-out at an ATH) that are riding their XAVG 5 (purple dotted line) higher. Study these examples of SMCI and SLV and then - [Blog Post: Day 9 of $QQQ short term up-trend; Tariff war turbulence ahead; Silver, Gold and Cash are kings; Since its GLB on November 28, SLV has advanced +58%, see daily chart and my technical comments.](https://wishingwealthblog.com/2026/01/blog-post-day-9-of-qqq-short-term-up-trend-tariff-war-turbulence-ahead-silver-gold-and-cash-are-kings-since-its-glb-on-november-28-slv-has-advanced-58-see-daily-chart-and-my-technical-commen/) - Note that SLV has closed above its 5EMA (blue dotted line) every day but 3 sinces its GLB to ATHs. Strongly advancing stocks tend to hold their daily 5EMA. If I owned SLV I would place a stop loss just below the low of the day it closes below its 5EMA. I might also buy - [Blog Post: Day 4 of $QQQ short term up-trend and GMI remains GREEN; $QQQ retakes its 10 week average. , The most stocks at ATHs, 10 of 93, are in Aerospace/Defense. Gold and semiconductors are the next industries with many stocks at ATHs.](https://wishingwealthblog.com/2026/01/blog-post-day-4-of-qqq-short-term-up-trend-and-gmi-remains-green-qqq-retakes-its-10-week-average-the-most-stocks-at-aths-10-of-93-are-in-aerospace-defense-gold-and-semiconductors-are-the-ne/) - I will post next on 1/18. Have a great week. - [Blog post: Day 1 of $QQQ short term up-trend; Livermore liked to buy a stock if other companies in the same industry were also showing strength; On Tuesday, 17 of 113 stocks at ATHs were from the Aerospace and Defense industries, more than any other industry, see list and 3X ETF, $DFEN.](https://wishingwealthblog.com/2026/01/blog-post-day-1-of-qqq-short-term-up-trend-livermore-liked-to-buy-a-stock-if-other-companies-in-the-same-industry-were-also-showing-strength-on-tuesday-17-of-113-stocks-at-aths-were-from-the-aero/) - The big money thinks this is the place to be. I use TC2000 to sort stocks at an ATH by industry. (Use the coupon on this blog to get TC2000.) Rather than choosing one of these stocks I bought the 3x ETF, $DFEN, see the daily chart below. Note the recent green line break-out, GLB, - [Blog Post: Day 1 of $QQQ short term down-trend; GMI=2 and could turn RED on Monday. QQQ has now closed below its 10 week average, see weekly chart.](https://wishingwealthblog.com/2026/01/blog-post-day-1-of-qqq-short-term-down-trend-gmi2-and-could-turn-red-on-monday-qqq-has-now-closed-below-its-10-week-average-see-weekly-chart/) - QQQ has now closed below its 10 week average. - [Blog Post: Day 7 of $QQQ short term up-trend, but it will likely end on Friday; Only 1 Nasdaq 100 stock rose on Wednesday !!!???? Long term treasury bonds, $TLT, are dropping! Setups are failing. Time for me to be on the sidelines.](https://wishingwealthblog.com/2026/01/blog-post-day-7-of-qqq-short-term-up-trend-but-it-will-likely-end-on-friday-only-1-nasdaq-100-stock-rose-on-wednesday-long-term-treasury-bonds-tlt-are-dropping-setups-are-failing-ti/) - So many things are not adding up. Not many highs or ATHs and long treasury bonds are declining, see chart below. I own a very little SQQQ in case a new QQQ short term down-trend begins on Friday. It is late and I had not planned to post tonight. I just want to tell my - [Blog Post: Day 4 of $QQQ short term up-trend; But GMI= only 3. Silver and Gold are going vertical! Be careful.](https://wishingwealthblog.com/2025/12/blog-post-day-4-of-qqq-short-term-up-trend-but-gmi-only-3-silver-and-gold-are-going-vertical-be-careful/) - Many years ago I learned when a stock I owned went vertical and my internal voice said, "this is too easy," it often meant the stock was having a final climax run. SLV appears that way to me. On Friday it zoomed on the highest trading volume in a long time. This daily chart shows - [Blog Post: Day 1 of new $QQQ short term up-trend; see daily chart](https://wishingwealthblog.com/2025/12/blog-post-day-1-of-new-qqq-short-term-up-trend-see-daily-chart/) - Note support off of the 15.2 daily lower Bollinger Band and recent Blue Dots. I am slowly accumulating TQQQ. - [Blog Post: Day 5 of $QQQ short term down-trend, it could end Monday; 13 doublers that had a Blue Dot of Happiness setup on Friday; GMI=4](https://wishingwealthblog.com/2025/12/blog-post-day-5-of-qqq-short-term-down-trend-it-could-end-monday-13-doublers-that-had-a-blue-dot-of-happiness-setup-on-friday-gmi4/) - These stocks were at least 1.9x their lowest price this year, see last column, recently traded at an ATH, and bounced from oversold (Blue Dot of Happiness) on Friday. Check them out. I explained this setup during my recent TraderLion Day 6 presentation. I use TC2000 to scan for technically strong stocks that have just - [Blog Post: Day 4 of $QQQ short term down-trend; $QQQ flat, see modified daily Guppy chart. Will people take their capital gains in January? GMI-2=2.](https://wishingwealthblog.com/2025/12/blog-post-day-4-of-qqq-short-term-down-trend-qqq-flat-see-modified-daily-guppy-chart-will-people-take-their-capital-gains-in-january-gmi-22/) - The short and longer term averages have converged. We need to see which way QQQ will break. Keep in mind that many investors may delay selling and taking their taxable capital gains until early January. Note the extra sensitive GMI-2=2. - [Blog Post: Day 2 of $QQQ short term down-trend; However, $TSLA has high volume GLB, see daily chart. Will it succeed? Must not close below green line, @488.54. Also looks like a cup with handle break-out.](https://wishingwealthblog.com/2025/12/blog-post-day-2-of-qqq-short-term-down-trend-however-tsla-has-high-volume-glb-see-daily-chart-will-it-succeed-must-not-close-below-green-line-488-54-also-looks-like-a-cup-with-handle-break/) - [Blog Post: Day 11 of $QQQ short term up-trend, it could end on Monday? $IBD 50 type growth stocks are in a BWR down-trend, see daily modified Guppy charts of $FFTY and $QQQ. Some thoughts on what this all might signify. The dollar is falling while long rates are rising! See charts.](https://wishingwealthblog.com/2025/12/blog-post-day-11-of-qqq-short-term-up-trend-it-could-end-on-monday-ibd-50-type-growth-stocks-are-in-a-bwr-down-trend-see-daily-modified-guppy-charts-of-ffty-and-qqq-some-thoughts-on-what-thi/) - During last April's market decline, the ETF FFTY, based on the IBD50 index, entered a daily BWR decline.This means that the shorter term averages (red lines) were declining below the longer term averages (blue lines) such that there was a white space separating them, hence a BWR down-trend. FFTY subsequently entered a RWB up-trend that - [Blog Post: Day 9 of $QQQ short term up-trend; $JNJ had a Blue Dot of Happiness setup early Wednesday, I tweeted about it on X in the morning; see daily chart.](https://wishingwealthblog.com/2025/12/blog-post-day-9-of-qqq-short-term-up-trend-jnj-had-a-blue-dot-of-happiness-setup-early-wednesday-i-tweeted-about-it-on-x-in-the-morning-see-daily-chart/) - I was on the road and took a chance to post about JNJ early in the day. Sometimes blue dots occur in he morning but the stock fails the setup by closing. JNJ was a successful break out, see daily chart below. Note the high volume on this bounce from oversold. My Blue Dot of - [Blog Post: Day 6 of $QQQ short term up-trend; GMI=6 (of 6) and GREEN; See weekly 10:30 chart. Up-trend is intact, see my analysis.](https://wishingwealthblog.com/2025/12/blog-post-day-6-of-qqq-short-term-up-trend-gmi6-of-6-and-green-see-weekly-1030-chart-up-trend-is-intact-see-my-analysis/) - The media pundits are all predicting doom or gloom. I prefer to just analyze the current market's trend and react to it. My indicators have alerted me to get out of the markets early in all major declines since 2000. I post what I am doing in order to teach other traders and investors. When - [Blog Post: Day 5 of $QQQ short term up-trend; Biotechs remain strong, $KRYS had GLB on Thursday, see daily chart.](https://wishingwealthblog.com/2025/12/blog-post-day-5-of-qqq-short-term-up-trend-biotechs-remain-strong-krys-had-glb-on-thursday-see-daily-chart/) - Note above average trading volume too. IBD comp=99! - [Blog Post: Day 4 of $QQQ short term up-trend; Biotechs strong again, 6 of the 10 stocks that reached a recent ATH and bounced from oversold with a Blue Dot were biotechs, see list.](https://wishingwealthblog.com/2025/12/blog-post-day-4-of-qqq-short-term-up-trend-biotechs-strong-again-6-of-the-10-stocks-that-reached-a-recent-ath-and-bounced-from-oversold-with-a-blue-dot-were-biotechs-see-list/) - I scanned over 6,000 stocks and these 10 stocks came up. 6 of the 10 were biotechs! These are stocks that reached a recent ATH and just bounced from oversold, a favorite setup of mine. Why were 60% biotechs? If I purchased after a a bounce, I set my stop below the low of the - [Blog Post: Day 3 of $QQQ short term up-trend; $AMAT triggered a GLB alert this morning; Did you see my message on X?](https://wishingwealthblog.com/2025/12/blog-post-day-3-of-qqq-short-term-up-trend-amat-triggered-a-glb-alert-this-morning-did-you-see-my-message-on-x/) - This morning AMAT crossed above its green line and TC2000 sent me an immediate alert. I bought a little and sent out a tweet containing a chart of AMAT. If you want to receive my intraday tweets, follow me on X, @WishingWealth. The green line was drawn at $255.89 and AMAT closed at $265.33 on - [Day 1 of new $QQQ short term up-trend and GMI=6! Indexes retake 4wk and 10wk averages, see weekly chart of $SPY and GMI table.](https://wishingwealthblog.com/2025/11/day-1-of-new-qqq-short-term-up-trend-and-gmi6-indexes-retake-4wk-and-10wk-averages-see-weekly-chart-of-spy-and-gmi-table/) - All averages are lined up on this weekly chart. Same as DIA and QQQ. GMI=6 and GREEN! - [Blog Post: Day 9 of $QQQ short term down-trend, it could end on Friday; GMI=4 and is now Green; I noticed Health Care, $XLV, is the only one of 11 SPDR Sector ETFs in a daily RWB up-trend pattern, see daily Guppy chart; check out advancing biotechs!](https://wishingwealthblog.com/2025/11/blog-post-day-9-of-qqq-short-term-down-trend-it-could-end-on-friday-gmi4-and-is-now-green-i-noticed-health-care-xlv-is-the-only-one-of-11-spdr-sector-etfs-in-a-daily-rwb-up-trend-pattern-see/) - This may be related to the unusual strength in biotech ETFs. Check out XBI, BIB, LABU. IBBQ - [Blog Post: Day 8 of $QQQ short term down-trend but GMI=4 and could turn GREEN on Wednesday; $QQQ back above all 12 daily averages in modified Guppy chart, see also RWB uptrend in $XBI.](https://wishingwealthblog.com/2025/11/blog-post-day-8-of-qqq-short-term-down-trend-but-gmi4-and-could-turn-green-on-wednesday-qqq-back-above-all-12-daily-averages-in-modified-guppy-chart-see-also-rwb-uptrend-in-xbi/) - The dotted line is the daily close. It has now retaken all 12 of the short (red) and longer term (blue) exponential averages. Another strong day on Wednesday might turn the GMI GREEN. The QQQ short term trend remains down but could reverse later this week. The AI stocks have not recovered but many other - [Blog Post: Day 6 of $QQQ short term down-trend; 74 US new highs and 97 lows; Friday's late bounce held $QQQe above its 30 week average, but major indexes closed below their critical 10 week averages; GMI=RED and cash is king; See weekly 10:30 chart of $QQQ and my explanation.](https://wishingwealthblog.com/2025/11/blog-post-day-6-of-qqq-short-term-down-trend-74-us-new-highs-and-97-lows-fridays-late-bounce-held-qqqe-above-its-30-week-average-but-major-indexes-closed-below-their-critical-10-week-averages/) - This weekly 10:30 chart of QQQ shows it to have closed (gray line) below its 10 week average (dotted line) on above average trading volume. Compare this pattern to the decline last March and April. The question remains whether QQQ will retake this average or decline to the 30 week average (red solid line) or - [Blog Post: Day 5 of $QQQ short term down-trend; $DIA, $SPY, $QQQ and $IWM are no longer in daily RWB up-trends; This is true even for $NVDA, see its daily modified Guppy chart.](https://wishingwealthblog.com/2025/11/blog-post-day-5-of-qqq-short-term-down-trend-dia-spy-qqq-and-iwm-are-no-longer-in-daily-rwb-up-trends-this-is-true-even-for-nvda-see-its-daily-modified-guppy-chart/) - NVDA's short term averages (red) have now converged with their longer term averages (blue). Below is the daily modified Guppy chart for NVDA. The dotted line shows the daily closes.If the red lines decline below all of the red lines, it will be a BWR down-trend (see chart of META below) and very ominous. Regarding - [Blog Post: Day 3 of new $QQQ short term down-trend. Biotechs are coming alive, see list of 7 at ATHs and weekly chart of biotech ETF, $XBI.](https://wishingwealthblog.com/2025/11/blog-post-day-3-of-new-qqq-short-term-down-trend-biotechs-are-coming-alive-see-list-of-7-at-aths-and-weekly-chart-of-biotech-etf-xbi/) - Seven of 23 stocks at an ATH (all-time high) on Tuesday were biotechs. See the list. Symbol/industry/next earnings date/closing price. They may be worth researching. Also, check out this weekly chart of XBI, a biotech ETF. It is in a steady up-trend, tracking the 4 wk avg (orange dotted line). It is not at an - [Blog Post: Day 2 of $QQQ short term down-trend; GMI=1 and RED; Daily RWB up-trend over, see modified daily Guppy chart.](https://wishingwealthblog.com/2025/11/blog-post-day-2-of-qqq-short-term-down-trend-gmi1-and-red-daily-rwb-up-trend-over-see-modified-daily-guppy-chart/) - The short (red) and longer term averages (blue) have converged with no white space between them. The RWB up-trend is over. I am holding a little SQQQ and cash (in TBIL) in my trading account. Be careful and limit losses! If the new down-trend exceeds 5 days I will accumulate SQQQ. Beware a possible BWR - [Blog Post: Day 1 of $QQQ short term down-trend; QQQ found support again at lower daily 15.2 BB. Will it hold?](https://wishingwealthblog.com/2025/11/blog-post-day-1-of-qqq-short-term-down-trend-qqq-found-support-again-at-lower-daily-15-2-bb-will-it-hold/) - The GMI=2 and could flash RED on Monday. - [Blog Post: Day 58 of $QQQ short term up-trend, it may end on Friday. Now we see if last Friday's bounce will hold. $AMZN has a failed GLB, see daily chart.](https://wishingwealthblog.com/2025/11/blog-post-day-58-of-qqq-short-term-up-trend-it-may-end-on-friday-now-we-see-if-last-fridays-bounce-will-hold-amzn-has-a-failed-glb-see-daily-chart/) - Many tech leaders are being slaughtered. Many breakouys are failing. Not just techs are weak. See this failed GLB by AMZN after its large volume earnings gap up on 10/31. To remain a successful GLB, the stock must not close back below the green line. I am mainly in cash in my trading accounts, while - [Blog Post: Day 57 of $QQQ short term up-trend; Since day 1 on 8/25 QQQ +8.9% but $TQQQ +24.5%, outperforming 85% of NASDAQ100 stocks and 94% of S&P500 stocks. The 15 NASDAQ 100 stocks that beat TQQQ are shown below. Buy the haystack!](https://wishingwealthblog.com/2025/11/blog-post-day-57-of-qqq-short-term-up-trend-since-day-1-on-8-25-qqq-8-9-but-tqqq-24-5-outperforming-85-of-nasdaq100-stocks-and-94-of-sp500-stocks-the-15-nasdaq-100-stocks-that-beat-tqqq-are/) - Rather than trying to predict the minority of individual stocks that will beat TQQQ, the needle in the haystack, why not buy the haystack? See Les Masonson's excellent new book about TQQQ. Find his book listed in this blog page. These 15 stocks did better than TQQQ. MU did best with a gain of 110.36%. - [Blog Post: Social Media abuzz about Friday's bounce off of 50 day average; Major indexes also bounced off of lower Bollinger Band and had a blue dot signal, see daily chart of $QQQ and analysis; This week we see whether the bounce can hold. GMI=3](https://wishingwealthblog.com/2025/11/blog-post-social-media-abuzz-about-fridays-bounce-off-of-50-day-average-major-indexes-also-bounced-off-of-lower-bollinger-band-and-had-a-blue-dot-signal-see-daily-chart-of-qqq-and-analysis-this/) - Either Friday's bounce will hold or it won't or it will fake us all out. The fact that QQQ (and DIA and SPY) all bounced their 50 day averages, their lower Bollinger Bands and had Blue dot signals suggests the bounce may hold. At least technical analysts will think so. But I must react, rather - [Blog Post: Technical problems prevented last night's post. I am mainly in cash with some $SQQQ in my trading accounts. $QQQ failed to hold 4wk avg and is now sitting on critical 10 wk avg, see weekly chart. Short term up-trend in jeopardy. Last night's GMI stats shown.](https://wishingwealthblog.com/2025/11/blog-post-technical-problems-prevented-last-nights-post-i-am-mainly-in-cash-with-some-sqqq-in-my-trading-accounts-qqq-failed-to-hold-4wk-avg-and-is-now-sitting-on-critical-10-wk-avg-see-weekly/) - If 10 week fails to hold (blue dots) , the next major support is the 30 wk average (solid red line) and/or prior green line. A failure to hold the 10 week will be a major sign of weakness. My trading accounts are in cash with a little position in SQQQ. If the QQQ short - [Blog Post: Day 52 of $QQQ short term up-trend: GMI back to 6. We want to buy a stock or ETF when it has had a GLB, to ATHs. See monthly chart example of $ARKK.](https://wishingwealthblog.com/2025/11/blog-post-day-52-of-qqq-short-term-up-trend-gmi-back-to-6-we-want-to-buy-a-stock-or-etf-when-it-has-had-a-glb-to-aths-see-monthly-chart-example-of-arkk/) - A green line is drawn on a monthly chart at the highest price bar (ATH) that is not exceeded for at least 3 months (bars). It shows a stock strong enough to reach an ATH that then rests for at least 3 months. When it breaks out to a new ATH (green line breakout, GLB) - [Blog Post: Day 51 of $QQQ short term up-trend; 70 new US highs, 105 lows and 15 at ATHs; $QQQ has now returned to support at its 4 wk average; the up-trend is still intact, see weekly chart and analysis.](https://wishingwealthblog.com/2025/11/blog-post-day-51-of-qqq-short-term-up-trend-70-new-us-highs-105-lows-and-15-at-aths-qqq-has-now-returned-to-support-at-its-4-wk-average-the-up-trend-is-still-intact-see-weekly-chart-and-analys/) - $QQQ was floating well above its rising 4 wk average (red dotted line) last week. That is a sign of being extended. This week it has returned to this important line of support. We have to see if it will close the week above this line. If it fails to, the next line of support - [Blog Post: Day 49 of $QQQ short term up-trend; $QQQ, $DIA and $SPY remain in RWB daily up-trends, but there were many new lows last week; the GMI=4 and Green, see table.](https://wishingwealthblog.com/2025/11/blog-post-day-49-of-qqq-short-term-up-trend-qqq-dia-and-spy-remain-in-rwb-daily-up-trends-but-there-were-many-new-lows-last-week-the-gmi4-and-green-see-table/) - [Blog Post: Day 48 of $QQQ short term up-trend; Something is off: More new lows than highs, <50% of stocks advancing for days and and equal weighted market indexes are weaker than their large cap weighted indexes, masking the weakness among most stocks. $GLD oversold bounce?](https://wishingwealthblog.com/2025/10/blog-post-day-48-of-qqq-short-term-up-trend-something-is-off-more-new-lows-than-highs/) - I do not know how long this market can continue to rise based on the few stronger large cap stocks. Only 31% of NYSE stocks have closed today above their 40 day averages (T2108 indicator). In contrast, 55% of the Nasdaq 100 stocks have closed above their 50 day averages. I bought a little GLD - [Blog Post: Day 44 of $QQQ short term up-trend; $AAPL retakes green line, see daily chart. The GMI=6 (of 6) and Green, see Table.](https://wishingwealthblog.com/2025/10/blog-post-day-44-of-qqq-short-term-up-trend-aapl-retakes-green-line-see-daily-chart-the-gmi6-of-6-and-green-see-table/) - If a stock has a GLB and then closes back below the green line, it is a failed GLB and I exit immediately. If it subsequently closes back above the green line, I buy it back. AAPL reports earnings on 10/30. - [Blog Post: Day 43 of $QQQ short term up-trend; "Come Back at Halloween." Barring bad inflation news Friday, my indicators suggest a continuing up-trend, see weekly chart and explanation.](https://wishingwealthblog.com/2025/10/blog-post-day-43-of-qqq-short-term-up-trend-come-back-at-halloween-barring-bad-inflation-news-friday-my-indicators-suggest-a-continuing-up-trend-see-weekly-chart-and-explanation/) - The old saying is Go Away in May and Come Back at Halloween. This is because many academic studies have shown that most of the rise in stocks each year occurs between Halloween and May., The market has climbed this year since May, however. I think there was a good reason that William O'Neil's books - [Blog Post: Day 42 of $QQQ short term up-trend; $AAPL has failed GLB, earnings next week, be careful of failed setups.](https://wishingwealthblog.com/2025/10/blog-post-day-42-of-qqq-short-term-up-trend-aapl-has-failed-glb-earnings-next-week-be-careful-of-failed-setups/) - [Blog Post: Day 40 of $QQQ short term up-trend; Up-trend continues, GMI=6 and $AAPL has a GLB after a Blue Dot of Happiness signal, see daily chart.](https://wishingwealthblog.com/2025/10/blog-post-day-40-of-qqq-short-term-up-trend-up-trend-continues-gmi6-and-aapl-has-a-glb-after-a-blue-dot-of-happiness-signal-see-daily-chart/) - AAPL followed through after its Blue Dot of Happiness signal and had a GLB to an ATH. For a definition of the Blue Dot of Happiness signal, see my recent presentation to the TraderLion Conference, Day 6. - [Blog Post: Day 39 of $QQQ short term up-trend; Much weakness on Friday: more new lows than highs and only 8 at ATH, lowest since April 24! Another possible head and shoulder's top forming, see daily chart. GMI=4 but Green, see table.](https://wishingwealthblog.com/2025/10/blog-post-day-39-of-qqq-short-term-up-trend-much-weakness-on-friday-more-new-lows-than-highs-and-only-8-at-ath-lowest-since-april-24-another-possible-head-and-shoulders-top-forming-see-dail/) - Last August I wrote that I saw a possible head and shoulders top pattern forming, but the market broke above the right shoulder and moved higher instead. I have drawn in another possible head and shoulders pattern in QQQ that has been forming. This week we will see if it is resolved like the earlier - [Blog Post: Day 38 of $QQQ short term up-trend; Banks and NYSE stocks are cratering and GLD keeps rising; something bad may be about to happen, reminds me of 2008, see charts.](https://wishingwealthblog.com/2025/10/blog-post-day-38-of-qqq-short-term-up-trend-banks-and-nyse-stocks-are-cratering-and-gld-keeps-rising-something-bad-may-be-about-to-happen-reminds-me-of-2008-see-charts/) - I was doing my normal nightly charting when I noticed big volume declines in bank stocks. KRE is just one banking ETF that is typical of many others. Look at the huge volume today. Individual banks are falling after reporting great earnings. It is also strange that T2108 is in a BWR down-trend. T2108 reflects - [Blog Post: Day 37 of $QQQ short term up-trend; Check out this amazing daily chart showing how $GLD has closed above its 5 EMA every day but one since August 22! See also $IREN, and how I trade this pattern.](https://wishingwealthblog.com/2025/10/blog-post-day-37-of-qqq-short-term-up-trend-check-out-this-amazing-daily-chart-showing-how-gld-has-closed-above-its-5-ema-every-day-but-one-since-august-22-see-also-iren-and-how-i-trade-this-pa/) - I saw it, but missed trading $GLD after it had its Blue Dot of Happiness signal on August 20. Two days later, on August 22, it climbed above its daily 5 EMA (exponential moving average) and has only closed below it once. One could have bought GLD on any of the bounces up off of - [Blog Post: Day 35 of $QQQ short term up-trend; $QQQ has a blue dot (oversold bounce), GMI back to 5 (of 6).](https://wishingwealthblog.com/2025/10/blog-post-day-35-of-qqq-short-term-up-trend-qqq-has-a-blue-dot-oversold-bounce-gmi-back-to-5-of-6/) - QQQ had a blue dot bounce, see daily chart. Buying a little $TQQQ to hold for as long as the short term up-trend continues. - [Blog Post: Day 34 of $QQQ short term up-trend, it could end on Monday; GMI= 4 and still Green; Will indexes hold on Monday?](https://wishingwealthblog.com/2025/10/blog-post-day-34-of-qqq-short-term-up-trend-it-could-end-on-monday-gmi-4-and-still-green-will-indexes-hold-on-monday/) - I am sorry but I cannot access TC2000 tonight. Indexes are oversold but on support. Monday's action will tell us whether the markets will hold. I am in cash in my trading accounts after selling out on Friday. - [Blog Post: Day 32 of $QQQ short term up-trend; 176 US new highs, 58 lows and 68 ATHs; This daily modified Guppy chart shows $QQQ in a solid RWB up-trend.](https://wishingwealthblog.com/2025/10/blog-post-day-32-of-qqq-short-term-up-trend-176-us-new-highs-58-lows-and-68-aths-this-daily-modified-guppy-chart-shows-qqq-in-a-solid-rwb-up-trend/) - All shorter moving averages (red lines) are rising above the longer term averages (blue lines) with the closing daily prices (dotted line) leading them all higher. This is a RWB (red/white/blue) up-trend and is the case for all major indexes. This is a wonderful time to be long stocks. We should see a great earnings - [Blog Post: Day 29 of $QQQ short term up-trend; Thank you for the many "likes" I received for my post about the pundits who are predicting an imminent market top. NO ONE knows what the market will do, except by chance once in a while. I explain why I think collections of winning stocks can mislead traders. Expect failed setups!](https://wishingwealthblog.com/2025/10/blog-post-day-29-of-qqq-short-term-up-trend-thank-you-for-the-many-likes-i-received-for-my-post-about-the-pundits-who-are-predicting-an-imminent-market-top-no-one-knows-what-the-market-will-d/) - Anyone can show us collections of winning stocks that demonstrate how various technical setups have worked. But by definition, these setups work on strong rising stocks. Just buying every Friday could have yielded profits on a steadily rising stock. Traders can be misled into thinking that employing these winning setups will likely lead them to - [Blog Post: Day 26 of $QQQ short term up-trend; Nibbling at a few stocks showing strength; See daily and monthly charts of $BTSG and my analysis.](https://wishingwealthblog.com/2025/09/blog-post-day-26-of-qqq-short-term-up-trend-nibbling-at-a-few-stocks-showing-strength-see-daily-and-monthly-charts-of-btsg-and-my-analysis/) - I found BTSG by scanning for stocks reaching an ATH today. BTSG had a recent high volume GLB and then went sideways for about 15 days. On Tuesday it broke out again to new high ground, again with large volume. Look at the huge volume up days it has had recently. The monthly chart shows - [Blog Post: Day 24 of $QQQ short term up-trend; Short and longer term up-trends remain intact, GMI=6 (of 6), see 10:30 weekly chart of $QQQ](https://wishingwealthblog.com/2025/09/blog-post-day-24-of-qqq-short-term-up-trend-short-and-longer-term-up-trends-remain-intact-gmi6-of-6-see-1030-weekly-chart-of-qqq/) - This chart shows the 10 week average above the 30 week and QQQ (gray line) is leading both higher. I ignore the news and just watch the market's action. - [Blog Post: Day 23 of $QQQ short term up-trend; More US new lows than highs, 92:74; GMI=4; Many breakouts are failing; I am mostly in cash, but I like today's blue dot signal for $CLS, see the daily chart and my explanation.](https://wishingwealthblog.com/2025/09/blog-post-day-23-of-qqq-short-term-up-trend-more-us-new-lows-than-highs-9274-gmi4-many-breakouts-are-failing-i-am-mostly-in-cash-but-i-like-todays-blue-dot-signal-for-cls-see-the-daily-c/) - With a government shutdown possible, the market is acting weak. I sold out of most positions today but could not resist a nibble at CLS, which had a blue dot on Thursday. I know most setups are likely to fail in a weak market, but I like the way CLS behaved today and how the - [Blog Post: Day 22 of $QQQ short term up-trend; On September 9, I wrote that $IREN had retaken its green line; It closed Wednesday at $47.14, 68% above its green line at $28.25, GLBs can work, see daily chart.](https://wishingwealthblog.com/2025/09/blog-post-day-22-of-qqq-short-term-up-trend-on-september-9-i-wrote-that-iren-had-retaken-its-green-line-it-closed-wednesday-at-47-14-68-above-its-green-line-at-28-25-glbs-can-work-see-daily/) - Here is the post from September 9: - [Blog Post: Day 20 of $QQQ short term up-trend; This 10:30 weekly chart shows consistent QQQ up-trend; I ride it and don't try to predict its end!](https://wishingwealthblog.com/2025/09/blog-post-day-20-of-qqq-short-term-up-trend-this-1030-weekly-chart-shows-consistent-qqq-up-trend-i-ride-it-and-dont-try-to-predict-its-end/) - This chart shows the weekly closes (gray line) above the rising 10 week average (blue dotted) which is above the rising 30 week average (red solid). As long as this pattern continues I will stay long. When it fails I will reduce long holdings. I react rather then try to predict. No one knows when - [Blog Post: Day 19 of $QQQ short term up-trend; Below is a list of 14 stocks that had a successful GLB in 2025; Buying GLBs can really work! $SOFI had a GLB on Friday, see monthly and weekly charts.](https://wishingwealthblog.com/2025/09/blog-post-day-19-of-qqq-short-term-up-trend-below-is-a-list-of-14-stocks-that-had-a-successful-glb-in-2025-buying-glbs-can-really-work-sofi-had-a-glb-on-friday-see-monthly-and-weekly-charts/) - These are some stocks that had a GLB (green line break-out) and kept rising. While not all GLBs are successful, one can buy a GLB immediately and sell if the stock CLOSES back below the green line. That is how to limit losses. Green lines are drawn on a monthly chart at an ATH that - [Blog Post: Day 16 of $QQQ short term up-trend; See list of 14 doublers that reached an ATH on Tuesday.](https://wishingwealthblog.com/2025/09/blog-post-day-16-of-qqq-short-term-up-trend-see-list-of-14-doublers-that-reached-an-ath-on-tuesday/) - The leaders show up among those hitting all-time highs (ATHs). This list shows growth stocks that reached an ATH on Tuesday and that are at least twice their prices a year ago.The list is sorted by change from a year ago. IONQ is 8x its price a year ago. Check them out. - [Blog Post: Day 14 of $QQQ short term up-trend; $IREN had recent GLB and has strong fundamentals, see daily and monthly charts; GMI=6 (of 6)](https://wishingwealthblog.com/2025/09/blog-post-day-14-of-qqq-short-term-up-trend-iren-had-recent-glb-and-has-strong-fundamentals-see-daily-and-monthly-charts-gmi6-of-6/) - IREN has high volume advances and is trending with its 5 EMA. It is almost 5x its price a year ago. It has strong fundamentals, check it out. Below are its daily and monthly charts. It must not CLOSE below green line @28.25. - [Blog Post: Day 13 of $QQQ short term up-trend; Many stocks at ATHs. $NET had an above average GLB, must not CLOSE below green line @221.64, see daily and monthly charts.](https://wishingwealthblog.com/2025/09/blog-post-day-13-of-qqq-short-term-up-trend-many-stocks-at-aths-net-had-an-above-average-glb-must-not-close-below-green-line-221-64-see-daily-and-monthly-charts/) - [Blog Post: Day 11 of $QQQ short term up-trend; QQQ is gaining strength, H+S top pattern no more; $IREN had a high volume retake of its green line, see daily and monthly charts.](https://wishingwealthblog.com/2025/09/blog-post-day-11-of-qqq-short-term-up-trend-qqq-is-gaining-strength-hs-top-pattern-no-more-iren-had-a-high-volume-retake-of-its-green-line-see-daily-and-monthly-charts/) - IREN caught my eye when it hit an ATH on above average volume on Tuesday and closed back above its green line. Note the high volume GLB a few days ago. It has an IBD/MS COMP=94 and the ACC/DIS rating=A+, RS=99 and it is expected to become profitable this year. IREN is a recent IPO - [Blog Post: Day 9 of $QQQ short term up-trend; A most difficult and conflicted market, see daily chart of $QQQ and my thoughts.](https://wishingwealthblog.com/2025/09/blog-post-day-9-of-qqq-short-term-up-trend-a-most-difficult-and-conflicted-market-see-daily-chart-of-qqq-and-my-thoughts/) - My indictors in the GMI table below are all positive. But why are so many of my setups failing and why is this market so difficult. I think Darvas once said they shoot the generals first and then get around to killing the rest of the stocks. When NVDA and PLTR report good earnings and - [Blog Post: Day 8 of $QQQ short term up-trend; $QQQ held the head and shoulders neckline--but will it overtake the right shoulder?](https://wishingwealthblog.com/2025/09/blog-post-day-8-of-qqq-short-term-up-trend-qqq-held-the-head-and-shoulders-neckline-but-will-it-overtake-the-right-shoulder/) - Note QQQ held the neckline (purple line). If QQQ can close above its right shoulder, the head and shoulders topping pattern will have been invalidated. If it starts down before that, it could mean a significant decline is on tap. Tomorrow's action may tell us. - [Blog Post Day 6 of $QQQ short term up-trend but likely will end on Wednesday; $GOOGL holds its green line and will likely gap up on Wednesday on news.](https://wishingwealthblog.com/2025/09/blog-post-day-6-of-qqq-short-term-up-trend-but-likely-will-end-on-wednesday-googl-holds-its-green-line-and-will-likely-gap-up-on-wednesday-on-news/) - When a stock holds up while many other stocks are declining it is telling you something. GOOGL news broke that will likely propel the stock higher tomorrow. GOOGL held its green line through the recent market volatility. Some traders likely knew the news before it came out. A GLB should be held until the stock - [Blog Post: Day 5 of $QQQ short term up-trend; But $QQQ raisng some serious concerns, see possible Head and Shoulders top pattern in daily chart; Charts of $DIA and $SPY tell quite a different story; But check out $GOOGL's daily chart.](https://wishingwealthblog.com/2025/09/blog-post-day-5-of-qqq-short-term-up-trend-but-qqq-raisng-some-serious-concerns-see-possible-head-and-shoulders-top-pattern-in-daily-chart-charts-of-dia-and-spy-tell-quite-a-different-story-b/) - While the new $QQQ short term up-trend has reached Day 5, I am concerned by the daily chart. It looks like a possible head and shoulders top pattern is forming. I labeled the head and shoulders. Note also the recent red volume spikes on down days. The key for me will be whether QQQ can - [Blog Post: Day 4 of $QQQ short term up-trend; $GOOGL holds GLB, see weekly and daily charts; Holding my nose and flying on instruments with $TQQQ](https://wishingwealthblog.com/2025/08/blog-post-day-4-of-qqq-short-term-up-trend-googl-holds-glb-see-weekly-and-daily-charts-holding-my-nose-and-flying-on-instruments-with-tqqq/) - While I can think of many reasons why the market will not remain bullish now, I am ignoring them and following my rules. We finished day 4 of the new QQQ short term up-trend and Friday will reach Day 5. I have repeatedly found that if I just held TQQQ from early in a new - [Blog Post: Day 2 of $QQQ short term up-trend; Stocks are strengthening and $QQQ remains in a daily RWB up-trend and has closed above all 12 moving averages, see adapted daily Guppy chart; starting to slowly accumulate $TQQQ](https://wishingwealthblog.com/2025/08/blog-post-day-2-of-qqq-short-term-up-trend-stocks-are-strengthening-and-qqq-remains-in-a-daily-bwr-up-trend-and-has-closed-above-all-12-moving-averages-see-adapted-daily-guppy-chart-starting-to/) - The gray dotted line is the daily close. All shorter term red averages are above the blue longer term averages with a white space between them (RWB) up-trend. If the new up-trend continues more than 5 days, I will accumulate more TQQQ. Many of my setups have begun to work again, a good sign of - [Blog Post: Day 2 of $QQQ short term down-trend, likely to end on Monday; Les Masonson's new book about TQQQ and leveraged ETFs just published!](https://wishingwealthblog.com/2025/08/blog-post-day-2-of-qqq-short-term-down-trend-likely-to-end-on-monday-les-masonsons-new-book-about-tqqq-and-leveraged-etfs-just-published/) - I told you that 40% of new QQQ short term down-trends end within 5 days. This may be one! The longer term GMI has remained GREEN throughout this period. Let's see if this Fed induced bounce will hold. For many years I have posted an analysis showing how the 3x leveraged ETF, TQQQ, outperforms almost - [Blog Post: Day 1 of new $QQQ short term down-trend; however, 40% end within 5 days; 3 biotechs (HALO, ALNY, RYTM) reached an ATH, see list of 24 stocks that reached an ATH on Thursday.](https://wishingwealthblog.com/2025/08/blog-post-day-1-of-new-qqq-short-term-down-trend-however-40-end-within-5-days-3-biotechs-halo-alny-rytm-reached-an-ath-see-list-of-24-stocks-that-reached-an-ath-on-thursday/) - While many leading stocks are weak, the money is moving into a number of other stocks. Among 6,281 stocks, 24 reached an ATH on Thursday. This list of them is sorted by industry and may contain some new winners. The daily charts of the 3 biotechs are very strong. - [Blog Post: Day 81 of $QQQ short term up-trend, it may end Thursday; Mainly in cash during the post-earnings release lull; Many stocks had an oversold bounce on Tuesday, see $PLTR as an example.](https://wishingwealthblog.com/2025/08/blog-post-day-81-of-qqq-short-term-up-trend-it-may-end-thursday-mainly-in-cash-during-the-post-earnings-release-lull-many-stocks-had-an-oversold-bounce-on-tuesday-see-pltr-as-an-example/) - Have you noticed that when earnings are released, stocks often have large moves up or down. After the earnings report period, stocks tend to settle down until the the next quarter's earnings begin again. August and September tend to be weak months in the market. I expect at the end of the current quarter, around - [Day 78 of $QQQ short term up-trend; $TQQQ outperforms again! If you bought TQQQ on Day 1 it would be up 73.2% beating all but 1 (AMD) of the Nasdaq 100 stocks and all but 6 of the S&P500 stocks!](https://wishingwealthblog.com/2025/08/day-78-of-qqq-short-term-up-trend-tqqq-outperforms-again-if-you-bought-tqqq-on-day-1-it-would-be-up-73-2-beating-all-but-1-amd-of-the-nasdaq-100-stocks-and-all-but-6-of-the-sp500-stocks/) - Leslie Masonson has an upcoming book on the TQQQ ETF profit machine. It should be available soon. The GMI=4 (of 6) and is still Green. - [Blog Post: Day 76 of $QQQ short term up-trend; 255 US stocks at yearly highs, 87 at ATHs and 18 at new lows; $RDDT had a GLB, see daily and weekly charts.](https://wishingwealthblog.com/2025/08/blog-post-day-76-of-qqq-short-term-up-trend-255-us-stocks-at-yearly-highs-87-at-aths-and-18-at-new-lows-rddt-had-a-glb-see-daily-and-weekly-charts/) - Daily chart. RDDT began ths rise with a gap up after earnings. I would like to see more volume on today's GLB. A CLOSE below the green line at 230.41 would be a failed GLB. Weekly chart. Note moves after each quarterly earnings report is released. - [Blog Post: Day 75 of $QQQ short term up-trend; GMI is back to 6; See list of 10 stocks that reached an ATH and bounced off of their 8 EMA, see example chart of $CRDO.](https://wishingwealthblog.com/2025/08/blog-post-day-75-of-qqq-short-term-up-trend-gmi-is-back-to-6-see-list-of-10-stocks-that-reached-an-ath-and-bounced-off-of-their-8-ema-see-example-chart-of-crdo/) - If I bought one of these I would sell with a close below the 8 EMA.They are sorted by earnings date. I explained this setup during my recent TraderLion appearance. CRDO is a fine example of this setup. It is above the last green line and has been tracking its 8 EMA. IBD Comp=99 with - [Blog Post: Day 73 of $QQQ short term up-trend; Shaken out but back in; Blue dot of Happiness signal held, see daily charts of QQQ and SPY; GMI=5 and Green; Running on instruments is better than on my emotions.](https://wishingwealthblog.com/2025/08/blog-post-day-73-of-qqq-short-term-up-trend-shaken-out-but-back-in-blue-dot-of-happiness-signal-held-see-daily-charts-of-qqq-and-spy-gmi5-and-green-running-on-instruments-is-better-than-on-my/) - Given that I am a chicken, I sometimes follow my emotions rather than my rules. I tell you when my actions work and when they do not. Given the reversal of QQQ on heavy volume from all-time highs (red dot) on 7/31 and the subsequent high volume decline on 8/1, I exited my positions in - [Blog Post: Day 70 of $QQQ short term up-trend but bounce is weak with QQQ back below 8EMA, back in cash.](https://wishingwealthblog.com/2025/08/blog-post-day-70-of-qqq-short-term-up-trend-but-bounce-is-weak-with-qqq-back-below-8ema-back-in-cash/) - Only 29% of Nasdaq 100 stocks rose on Tuesday. I sold my small position in TQQQ and will wait for a QQQ short term down-trend to consider buying SQQQ. - [Blog Post: Day 69 of $QQQ short term up-trend; Support has held with a Blue Dot and the short term up-trend continues, for now; see daily chart and my strategy..](https://wishingwealthblog.com/2025/08/blog-post-day-69-of-qqq-short-term-up-trend-support-has-held-with-a-blue-dot-and-the-short-term-up-trend-continues-for-now-see-daily-chart-and-my-strategy/) - The blue dot and bounce up off of the lower 15.2 daily Bollinger Band pattern contained the decline like it did on June 23, at least for now. See my recent presentation at Day 6 of the TraderLion Conference 25 for an explanation of the Blue Dot of Happiness setup. The GMI rose to 5 - [Blog Post: GMI declines to 3; $QQQ short term up-trend could end Monday after Day 68; Daily chart shows my concerns; $QQQ must bounce Monday or it may retest green line and GLB.](https://wishingwealthblog.com/2025/08/blog-post-gmi-declines-to-3-qqq-short-term-up-trend-could-end-monday-after-day-68-daily-chart-shows-my-concerns-qqq-must-bounce-monday-or-it-may-retest-green-line-and-glb/) - I had written on Thursday after the 8 EMA support line was violated, that I was becoming more defensive, and then we had a tough day on Friday. QQQ and SPY declined on heavy volume. A flat or down day on Monday would begin a new QQQ short term down-trend, after 68 days. If we - [Blog Post: Day 67 of $QQQ short term up-trend but $QQQ and $SPY close below 8 EMA for first time since June 20; getting defensive.](https://wishingwealthblog.com/2025/07/blog-post-day-67-of-qqq-short-term-up-trend-but-qqq-and-spy-close-below-8-ema-for-first-time-since-june-20-getting-defensive/) - QQQ and SPY had large volume declines from ATHs, distribution days, on Thursday. Only 19 of the Nasdaq 100 stocks rose, the least since 14 on June 17. There were 80 new yearly lows among 6,217 US stocks, the most since 90 last April. I am not taking on more risk and may raise stops - [Blog Post: Day 66 of $QQQ short term up-trend; $RKLB has a blue dot bounce, see daily chart.](https://wishingwealthblog.com/2025/07/blog-post-day-66-of-qqq-short-term-up-trend-rklb-has-a-blue-dot-bounce-see-daily-chart/) - The Blue Dot of Happiness Setup is explained in my presentation at the 2025 TraderLion Conference last Sunday. This setup is an oversold bounce after a recent ATH. See if the bounce holds, like the one in June. Earnings are expected August 7. - [Blog Post: Day 64 of $QQQ short term up-trend; Since QQQ had a blue dot on June 23, QQQ has not closed below its 8 EMA or 4wk SMA, see my TraderLion talk from Sunday for an explanation.](https://wishingwealthblog.com/2025/07/blog-post-day-64-of-qqq-short-term-up-trend-since-qqq-had-a-blue-dot-on-june-23-qqq-has-not-closed-below-its-8-ema-or-4wk-sma-see-my-traderlion-talk-from-sunday-for-an-explanation/) - The blue dot also occurred with a bounce up off of the 21 EMA and the lower 15.2 Bollinger Band. I suspect that when QQQ does finally close below its daily 8 EMA it will signal some short term weakness in the up-trend. Note the possible tradable buys when QQQ bounced up off of its - [Blog Post: Day 63 of $QQQ short term up-trend; Had a wonderful talk with Richard at TraderLion annual conference; Here are the scan results I presented; GMI=6.](https://wishingwealthblog.com/2025/07/blog-post-day-63-of-qqq-short-term-up-trend-had-a-wonderful-talk-with-richard-at-traderlion-annual-conference-here-are-the-scan-results-i-presented-gmi6/) - Thank you! I broke 31,000 followers on X today!!!! I reviewed some of my indicators: GLB, Blue Dot of Happiness and daily 8 EMA at the TraderLion conference today. I will post the recording link for Day 6 when I receive it or you can go to traderlion.com to find it. During my presentation I - [Blog Post: Day 62 of $QQQ short term up-trend; After earnings release, $R raced to an ATH above the green line on above average volume, see daily and weekly charts.](https://wishingwealthblog.com/2025/07/blog-post-day-62-of-qqq-short-term-up-trend-after-earnings-release-r-raced-to-an-ath-above-the-green-line-on-above-average-volume-see-daily-and-weekly-charts/) - [Blog Post: Day 61 of $QQQ short term up-trend; 64 out of 6,410 US stocks traded at an ATH on Wednesday; one of them, $CLS came back after bouncing off of its 21 EMA, see its promising daily and weekly charts.](https://wishingwealthblog.com/2025/07/blog-post-day-61-of-qqq-short-term-up-trend-64-out-of-6410-us-stocks-traded-at-an-ath-on-wednesday-one-of-them-cls-came-back-after-bouncing-off-of-its-21-ema-see-its-promising-daily-and-weekl/) - CLS had been tracking its 8 EMA beautifully and when it closed below it on Tuesday, I thought that it had broken trend. However, it retook its 8 EMA on Wednesday after finding support at the 21 EMA. If a setup fails and then succeeds, it can be a good trade to buy the stock - [Blog Post: Day 60 of $QQQ short term up-trend; Many momentum stocks faltered today, including last night's scan candidate, $CLS; I am surprised to find that my scan found $SPY tonight! See my description and daily chart.](https://wishingwealthblog.com/2025/07/blog-post-day-60-of-qqq-short-term-up-trend-many-momentum-stocks-faltered-today-including-last-nights-scan-candidate-cls-i-am-surprised-to-find-that-my-scan-found-spy-tonight-see-my-descrip/) - My Newhigh/8EMA Bounce scan showed that SPY recently had a GLB to an ATH and has been tracking its 8 EMA and bounced up off its 8 EMA on Tuesday. If I bought SPY on this setup I would sell SPY with a close below the 8 EMA or the green line, at 613.23. Note - [Blog Post: Day 59 of $QQQ short term up-trend; $CLS came up on my GLB/bounce daily 8 EMA scan, see daily and weekly charts. I will discuss this scan at the TraderLion conference this weekend.](https://wishingwealthblog.com/2025/07/blog-post-day-59-of-qqq-short-term-up-trend-cls-came-up-on-my-glb-bounce-daily-8-ema-scan-see-daily-and-weekly-charts-i-will-discuss-this-scan-at-the-traderlion-conference-this-weekend/) - CLS had a recent GLB to an ATH, has not closed below its daily 8 EMA since then and bounced up off of that average on Monday. Let's see if the bounce holds. Also note its weekly chart with CLS trending with the 4 wk average, a confirming sign of strength. I will describe how - [Blog Post: Day 58 of $QQQ short term up-trend; Can't access my technical software but GMI table already complete; GMI= 5 and on a Green signal.](https://wishingwealthblog.com/2025/07/blog-post-day-58-of-qqq-short-term-up-trend-cant-access-my-technical-software-but-gmi-table-already-complete-gmi-5-and-on-a-green-signal/) - [Blog Post: Day 56 of $QQQ short term up-trend; $HOOD continues to track its rising daily 8 EMA; view my presentation about this setup at the Long Island Traders Meetup Thursday evening.](https://wishingwealthblog.com/2025/07/blog-post-day-56-of-qqq-short-term-up-trend-hood-continues-to-track-its-rising-daily-8-ema-view-my-presentation-about-this-setup-at-the-long-island-traders-meetup-thursday-evening/) - I will discuss on Thursday evening the significance of a stock post-GLB tracking with the 8 EMA. It is truly amazing. Check out Pat Walker's seminal work on the 8 EMA in his interview with Richard Moglen. I am presenting at the Long Island TraderMeetup tomorrow evening. All are welcome. Register for free here. - [Blog Post: Day 54 of $QQQ short term up-trend; It is noteworthy that with the world rearming, these 5 defense/aerospace stocks (out of 54 at ATHs) reached an ATH on Monday, see list. Sign up to see me present at the Long Island Trader's meetup on Thursday evening.](https://wishingwealthblog.com/2025/07/blog-post-day-54-of-qqq-short-term-up-trend-it-is-noteworthy-that-with-the-world-rearming-these-5-defense-aerospace-stocks-out-of-54-at-aths-reached-an-ath-on-monday-see-list-sign-up-to-see-me/) - RKLB is 7.6 x its price from a year ago. TASR rose 7x and then declined and when it retook its ATH, a GLB, I bought it and it rocketed up 7x again. Many stocks having a GLB now reached an ATH in January and then declined with the market. They are now breaking out - [Blog Post: Day 53 of $QQQ short term up-trend; adapted daily Guppy chart shows QQQ in RWB up-trend and above last Green line top. GMI= Green and = 5 (of 6), see table.](https://wishingwealthblog.com/2025/07/blog-post-day-53-of-qqq-short-term-up-trend-adapted-daily-guppy-chart-shows-qqq-in-rwb-up-trend-and-above-last-green-line-top-gmi-green-and-5-of-6-see-table/) - [Blog Post: Day 52 of $QQQ short term up-trend; $IBIT retakes green line and closes at an ATH, has had three GLBs, see weekly and monthly charts](https://wishingwealthblog.com/2025/07/blog-post-day-52-of-qqq-short-term-up-trend-ibit-retakes-green-line-and-closes-at-an-ath-has-had-three-glbs-see-weekly-and-monthly-charts/) - Green lines are recoded orange when a higher green line is drawn. - [Blog Post: Day 51 of $QQQ short term up-trend; Recent GLB, $SHAK has retaken green line after a recent Blue Dot OSB, see daily and weekly charts.](https://wishingwealthblog.com/2025/07/blog-post-day-51-of-qqq-short-term-up-trend-recent-glb-shak-has-retaken-green-line-after-a-recent-blue-dot-osb-see-daily-and-weekly-charts/) - Note the Blue Dot signal and the bounce up off of the 8 EMA. Learn about the Blue Dot of Happiness indicator at the link in my May webinar tab on this blog. The N means I have entered a note after trading this stock. - [Blog Post: Day 48 of $QQQ short term up-trend; check out my revised GLB success table and GMI table..](https://wishingwealthblog.com/2025/07/blog-post-day-48-of-qqq-short-term-up-trend-check-out-my-revised-glb-success-table-and-gmi-table/) - The purpose of this revised table is to show selected successful GLBs. I sorted it by date and added more GLBs in 2025. I want readers to understand that a green line break-out (GLB) to an all-time high after a 3 month or more rest can be a great place to purchase a stock. A - [Blog Post: Day 45 of $QQQ short term up-trend; $HOOD takes off with a high volume GLB and closes at ATH, see daily and monthly charts.](https://wishingwealthblog.com/2025/06/blog-post-day-45-of-qqq-short-term-up-trend-hood-takes-off-with-a-high-volume-glb-and-closes-at-ath-see-daily-and-monthly-charts/) - [Blog Post: Day 44 of $QQQ short term up-trend; TA works also for mutual funds; See GLB last week in Fidelity Contrafund, $FCNKX, and learn how I analyze the market and a great source to limit losses.](https://wishingwealthblog.com/2025/06/blog-post-day-44-of-qqq-short-term-up-trend-ta-works-also-for-mutual-funds-see-glb-last-week-in-fidelity-contrafund-fcnkx-and-learn-how-i-analyze-the-market-and-a-great-source-to-limit-losses/) - My university retirement accounts only let me invest in mutual funds, one of which is Fidelity Contrafund. That fund is one of the best performing funds in strong growth stock markets. When one of my scans detects a stock, I am more likely to buy it if Fidelity Contrafund has invested in it. The charts - [Blog Post: Day 43 of $QQQ short term up-trend; So many breakouts--$RKLB had a high volume GLB on Thursday, see daily and monthly charts.](https://wishingwealthblog.com/2025/06/blog-post-day-43-of-qqq-short-term-up-trend-so-many-breakouts-rklb-had-a-high-volume-glb-on-thursday-see-daily-and-monthly-charts/) - [Blog Post: $CLS had GLB on Wednesday. See daily and weekly charts.](https://wishingwealthblog.com/2025/06/blog-post-cls-had-glb-on-wednesday-see-daily-and-weekly-charts/) - [Blog Post: Day 41 of $QQQ short term up-trend; $QQQ had a blue dot oversold bounce on Monday, see daily chart; $CRDO and $PWR had a GLB on Tuesday, see charts.](https://wishingwealthblog.com/2025/06/blog-post-day-41-of-qqq-short-term-up-trend-qqq-had-a-blue-dot-oversold-bounce-on-monday-see-daily-chart-crdo-and-pwr-had-a-glb-on-tuesday-see-charts/) - I explained my Blue Dot of Happiness setup at the Boston IBD Meetup on May 21. Note that a blue dot also occurred at the April bottom. The one in March failed. $QQQ could have a GLB this week. So many stocks are breaking out. CRDO had a GLB on Tuesday, see daily chart. So - [Blog Post: Day 40 of $QQQ short term up-trend; For the first time since last February QQQ's 4wk avg>10 wk avg>30 wk avg, also true for $SPY, see weekly charts. Bull is back!](https://wishingwealthblog.com/2025/06/blog-post-day-40-of-qqq-short-term-up-trend-for-the-first-time-since-last-february-qqqs-4wk-avg10-wk-avg30-wk-avg-also-true-for-spy-see-weekly-charts-bull-is-back/) - Better for me to focus on the market's movement rather than the news. I am slowly moving money off the sidelines and back into mutual funds in my university retirement accounts. I know I am late, but nearing retirement, I am a chicken. - [Blog Post: Day 39 of $QQQ short term up-trend; $QQQ wedged between green line top and rising 4 week average; Will $CRDO have a GLB? See weekly chart; GMI=Green](https://wishingwealthblog.com/2025/06/blog-post-day-39-of-qqq-short-term-up-trend-qqq-wedged-between-green-line-top-and-rising-4-week-average-will-crdo-have-a-glb-see-weekly-chart-gmigreen/) - I find that the weekly chart gives me the clearest idea of the trend. QQQ is now just below its green line top and above its rising 4 week average (red dotted line). Will it have a GLB? Rather than predicting the future, I prefer to react to a break-out or break-down, once it has - [Blog Post: Day 38 of $QQQ short term up-trend; My modified Guppy chart shows $AAPL to be in a daily BWR decline since March, see chart and compare to $NVDA. Wise to view the daily Guppy chart before trading.](https://wishingwealthblog.com/2025/06/blog-post-day-38-of-qqq-short-term-up-trend-my-modified-guppy-chart-shows-aapl-to-be-in-a-daily-bwr-decline-since-april-see-chart-and-compare-to-nvda-wise-to-view-the-daily-guppy-chart-before-t/) - My modified Guppy chart shows 12 exponential moving averages and a one period simple average (dotted) that represents the current close. A RWB up-trend has all six shorter averages (red) rising above the longer averages (blue) with a white space separating them. A BWR down-trend is the opposite pattern. AAPL has been in a daily - [Blog Post: Day 36 of $QQQ short term up-trend; But what are all of these high volume down days = distribution, telling us? See daily chart with arrows. Can $QQQ close above the green line to an ATH?](https://wishingwealthblog.com/2025/06/blog-post-day-36-of-qqq-short-term-up-trend-but-what-are-all-of-these-high-volume-down-days-distribution-telling-us-see-daily-chart-with-arrows-can-qqq-close-above-the-green-line-to-an-ath/) - SPY shows the same pattern! Are the big boys unloading? Futures are down tonight. Be careful. If we get a GLB, I will become bullish. - [Blog Post: Day 35 of $QQQ short term up-trend; GMI=5 and GMI2=3; Be careful](https://wishingwealthblog.com/2025/06/blog-post-day-35-of-qqq-short-term-up-trend-gmi5-and-gmi23-be-careful/) - [Blog Post: Day 32 of $QQQ short term up-trend; $IBIT retakes green line after blue dot signal](https://wishingwealthblog.com/2025/06/blog-post-day-32-of-qqq-short-term-up-trend-ibit-retakes-green-line-after-blue-dot-signal/) - [Blog Post: Day 31 of $QQQ short term up-trend; $CCJ has high volume GLB; must not close below green line= 62.55, see daily chart](https://wishingwealthblog.com/2025/06/blog-post-day-31-of-qqq-short-term-up-trend-ccj-has-high-volume-glb-must-not-close-below-green-line-62-55-see-daily-chart/) - [Blog Post: Day 30 of $QQQ short term up-trend; $SPY (and $QQQ) remain in RWB daily up-trends and GMI=6 (of 6).](https://wishingwealthblog.com/2025/06/blog-post-day-30-of-qqq-short-term-up-trend-spy-and-qqq-remain-in-rwb-daily-up-trends-and-gmi6-of-6/) - [Blog Post: Day 28 of $QQQ short term up-trend; $ALMU having high volume GLB, see weekly chart.](https://wishingwealthblog.com/2025/06/blog-post-day-28-of-qqq-short-term-up-trend-almu-having-high-volume-glb-see-weekly-chart/) - [Blog Post: Day 25 of $QQQ short term up-trend; 5 Stocks with my Blue Dot setup on Friday, $PM and $VRNA are examples of prior successful blue dot setups, see daily charts.](https://wishingwealthblog.com/2025/06/blog-post-day-25-of-qqq-short-term-up-trend-5-stocks-with-my-blue-dot-setup-on-friday-pm-and-vrna-are-examples-of-prior-successful-blue-dot-setups-see-daily-charts/) - In my presentation to the Boston IBD Meetup on 5/21, I described my Blue Dot setup. Here is a list of 5 stocks that met that setup on Friday. They are worth investigating. No one knows if any of them will be successful. It often depends on the market's action. But if I I bought - [Blog Post: Day 22 of $QQQ short term up-trend; $QQQ is back in a daily RWB up-trend; see also 10:30 weekly chart; time to consider some long positions.](https://wishingwealthblog.com/2025/05/blog-post-day-22-of-qqq-short-term-up-trend-qqq-is-back-in-a-daily-rwb-up-trend-see-also-1030-weekly-chart-time-to-consider-some-long-positions/) - Even though the longer term trends are not up, the fact that the daily adapted Guppy chart has an RWB up-trend suggests to me that it is okay to buy some longs. I will feel more confident when the QQQ's 10 wk avg crosses above its 30 wk average. However, the 30 wk average is - [Blog Post: Day 21 of $QQQ short term up-trend; but 48 US new highs and 61 lows, and 16 ATHs; GMI=5; critical week coming.](https://wishingwealthblog.com/2025/05/blog-post-day-21-of-qqq-short-term-up-trend-but-48-us-new-highs-and-61-lows-and-16-aths-gmi5-critical-week-coming/) - I am concerned that there were more US stock new lows than highs on Friday. In addition, SPY closed below its declining 30 week average. This could be a deepening Stage 4 down-trend, especially if it cannot close this week above it. IWM and DIA look even weaker. However, QQQ closed above its flat 30 - [Blog Post: Day 20 of $QQQ short term up-trend; Thank you for attending my presentation to the Boston IBD Meetup last night, recording is coming to all who registered. See my TC2000 Scan.](https://wishingwealthblog.com/2025/05/blog-post-day-20-of-qqq-short-term-up-trend-thank-you-for-attending-my-presentation-to-the-boston-ibd-meetup-last-night-recording-is-coming-to-all-who-registered-see-my-tc2000-scan/) - I am sorry that only the first 500 attendees coud listen to me live. Still, all who registered will be receiving the free recording. It was an exciting experience. Last night I introduced the attendees to my Blue Dot of Happiness indicator. I neglected to say that my great stock buddy, Judy, had suggested that - [Bog Post: Day 18 of $QQQ short term up-trend; $QBTS has high volume GLB, see daily and monthly charts.](https://wishingwealthblog.com/2025/05/bog-post-day-18-of-qqq-short-term-up-trend-qbts-has-high-volume-glb-see-daily-and-monthly-charts/) - [Blog Post: Day 17 of $QQQ short term up-trend; 7 of 32 stocks in my growth watchlist of 687 stocks that reached an ATH on Monday were in the Aerospace & Defense industry, $HWM and $AXON have already doubled, see list.](https://wishingwealthblog.com/2025/05/blog-post-day-17-of-qqq-short-term-up-trend-7-of-32-stocks-in-my-growth-watchlist-of-687-stocks-that-reached-an-ath-on-monday-were-in-the-aerospace-defense-industry-hwm-and-axon-have-already-d/) - List sorted by last column, c/c250. SEZL is up almost 9X, and had a GLB on 5/9/2025. Screenshot - [Blog Post: Day 16 of $QQQ short term up-trend; Major indexes are still not in confirmed up-trends yet, see weekly charts of $SPY and explanation. Boston IBD Meetup for 5/21 is full but register to receive free recording.](https://wishingwealthblog.com/2025/05/blog-post-day-16-of-qqq-short-term-up-trend-major-indexes-are-still-not-in-confirmed-up-trends-yet-see-weekly-charts-of-spy-and-explanation-boston-ibd-meetup-for-5-21-is-full-but-register-to-re/) - While we have had a nice rebound from the April lows, this weekly chart shows that SPY (as well as DIA, IWM, QQQ) still has a 10 week average below its declining 30 week average. During bull advances the 10 week can remain above the rising 30 week average for months. See also the weekly - [Blog Post: Day 15 of $QQQ short term up-trend; Here are 15 stocks from my growth watchlist that reached an ATH Thursday; note 4 are from the aerospace & defense industry.](https://wishingwealthblog.com/2025/05/blog-post-day-15-of-qqq-short-term-up-trend-here-are-15-stocks-from-my-growth-watchlist-that-reached-an-ath-thursday-note-4-are-from-the-aerospace-defense-industry/) - [Blog Post: Day 14 of $QQQ short term up-trend; Blue dots have helped me find strong stocks bouncing from oversold, see daily chart of AMZN; learn about the blue dot at my presentation to the Boston IBD Meetup on 5/21, register on blog.](https://wishingwealthblog.com/2025/05/blog-post-day-14-of-qqq-short-term-up-trend-blue-dots-have-helped-me-find-strong-stocks-bouncing-from-oversold-see-daily-chart-of-amzn-learn-about-the-blue-dot-at-my-presentation-to-the-boston-i/) - Note the blue dot signals. I will explain them at the Boston IBD Meetup on 5/21. Register now for free webinar and recording. - [Blog Post: Day 13 of $QQQ short term up-trend; Register NOW to get the free recording of my presentation to the Boston IBD Meetup on 5/21; $TQQQ beats most individual stocks again, see daily chart!](https://wishingwealthblog.com/2025/05/blog-post-day-13-of-qqq-short-term-up-trend-register-now-to-get-the-free-recording-of-my-presentation-to-the-boston-ibd-meetup-on-5-21-tqqq-beats-most-individual-stocks-again-see-daily-chart/) - I hope many of you can attend the online meeting at 7 PM EST or review the recording. I will discuss GLBs, Bollinger Bands and Stochastics in order to show how I use them to conduct my Blue Dot scan. You can register here. Attendance is limited, so do it now! Note that since Day - [Sign up for my free webianr at the Boston IBD Meetup for 5/21, get free recording. Link is below..](https://wishingwealthblog.com/2025/05/sign-up-for-my-free-webianr-at-the-boston-ibd-meetup-for-5-21-get-free-recording-link-is-bleow/) - Register for Boston IBD Meetup 5/21 Spots are limited. Do it now. - [Blog Post: Day 12 of $QQQ short term up-trend; GMI=6 (of 6); Time for me to look for buys near ATHs; See $UBER GLB on daily and weekly charts.](https://wishingwealthblog.com/2025/05/blog-post-day-12-of-qqq-short-term-up-trend-gmi6-of-6-time-for-me-to-look-for-buys-near-aths-see-uber-glb-on-daily-and-weekly-charts/) - The massive market rise on Monday puts QQQ above its 30 week average. Now the GMI= 6 (of 6). We need to see if it can hold. In the meantime, look at UBER, which retook its green line and closed at an ATH on above average volume. See daily and weekly charts. Must not close - [Blog Post: Day 11 of $QQQ short term up-trend but all major indexes remain in Stage 4 down-trends, see weekly 10:30 charts of 4 indexes and the GMI table.](https://wishingwealthblog.com/2025/05/blog-post-day-11-of-qqq-short-term-up-trend-but-all-major-indexes-remain-in-stage-4-down-trends-see-weekly-1030-charts-of-4-indexes-and-the-gmi-table/) - As long as the 10 week avg (dotted) is below the 30 wk avg (red) and the 30 wk is sloping down, I need to remain very cautious and on sidelines. The gray line is current weekly close and is trying to retake the 30 wk avg. Can it? Sometimes it does and then craters. - [Blog Post: Day 8 of $QQQ short term up-trend; $BJ had another successful Blue Dot set-up, as did $GLD, see daily charts.](https://wishingwealthblog.com/2025/05/blog-post-day-8-of-qqq-short-term-up-trend-bj-had-another-successful-blue-dot-set-up-as-did-gld-see-daily-charts/) - I will explain the Blue Dot set-up during my presentation to the Boston IBD Meetup on 5/21, registration link to come. I am retiring from teaching at the university. My former extraordinary student, Richard Moglen, and I are planning to offer my course on line in the fall through TraderLion! Stay tuned. - [Blog Post: Day 7 of $QQQ short term up-trend and GMI flashes Green! 17 US stocks at ATHs and up at least 50% the past 12 months worthy of monitoring.](https://wishingwealthblog.com/2025/05/blog-post-day-7-of-qqq-short-term-up-trend-and-gmi-flashes-green-17-us-stocks-at-aths-and-up-at-least-50-the-past-12-months-worthy-of-monitoring/) - The GMI =4 and now meets my criteria for a change to Green. However, I will be much more confident of this change when the GMI=5 or 6, indicating there are sufficient numbers of stocks at new highs. However, it is time to look at the list of stocks that traded at an ATH on - [Blog Post: Day 6 of $QQQ short term up-trend; $QQQ. $DIA, $SPY, $IWM retake their 10 week averages! Keeping an eye on $UBER, see daily and monthly charts](https://wishingwealthblog.com/2025/05/blog-post-day-6-of-qqq-short-term-up-trend-qqq-dia-spy-iwm-retake-their-10-week-averages-keeping-an-eye-on-uber-see-daily-and-monthly-charts/) - UBER is above it last green line but just below its ATH of 87, see monthly chart. I did not draw a new green line at 87 because the GLB (green line breakout) did not hold. Notice how UBER stopped in February at the green line and broke through on Friday, see daily chart. Be - [Blog Post: Day 5 of $QQQ short term up-trend; $DRS had a GLB on way above average trading volume, see daily chart.](https://wishingwealthblog.com/2025/05/blog-post-day-5-of-qqq-short-term-up-trend-drs-had-a-glb-on-way-above-average-trading-volume-see-daily-chart/) - Comp=99. Aerospace/Defense stock. Earnings were reported on Thursday. Must not close below 37.99. - [Blog Post: Day 4 of $QQQ short term up-trend; Slowly adding $TQQQ and some individual stocks near their ATHs; $BJ has another blue dot set-up, see daily chart.](https://wishingwealthblog.com/2025/04/blog-post-day-4-of-qqq-short-term-up-trend-slowly-adding-tqqq-and-some-individual-stocks-near-their-aths-bj-has-another-blue-dot-set-up-see-daily-chart/) - BJ has had another blue dot after a recent ATH set-up. This set-up is one of my favorites. I sell if the bounce from oversold fails. I will explain this set-up during my presentation at the Boston IBD Meetup on the evening of May 21. It is free and if you register in advance, they - [Blog Post: Day 2 of $QQQ short term up-trend; GMI=4, $ADMA has GLB to ATH on above average volume and $TTWO is a successful GLB thus far, see daily charts](https://wishingwealthblog.com/2025/04/blog-post-day-2-of-qqq-short-term-up-trend-gmi4-adma-has-glb-to-ath-on-above-average-volume-and-ttwo-is-a-successful-glb-thus-far-see-daily-charts/) - ADMA must remain closed above 23.64 to be a successful GLB. TTWO, a recent GLB, is holding its green line. - [Blog Post: Day 1 of $QQQ short term up-trend but 25% end within 5 days; Study this annotated 10:30 weekly chart of $SPY and $QQQ to see how I assess their primary trends.](https://wishingwealthblog.com/2025/04/blog-post-day-1-of-qqq-short-term-up-trend-but-25-end-within-5-days-study-this-annotated-1030-weekly-chart-of-spy-and-qqq-to-see-how-i-assess-their-primary-trends/) - Look at this chart and see the current down-trend pattern of SPY. The 10:30 weekly chart of QQQ tells a similar story. While my short term indicator of QQQ has turned up, note that in any change in trend the shorter term indicator's trend will change direction first but it does not necessarily mean the - [Blog Post: Day 42 of $QQQ short term down-trend, it may end Friday; However, longer term trends remain down, see 10:30 weekly chart of $SPY and my thoughts](https://wishingwealthblog.com/2025/04/blog-post-day-42-of-qqq-short-term-down-trend-it-may-end-friday-however-longer-term-trends-remain-down-see-1030-weekly-chart-of-spy-and-my-thoughts/) - It takes a long time for the longer term trends to turn up. There were only 7 US stocks at ATHs on Thursday. If the QQQ short term down-trend ends Friday, I might nibble at TQQQ. However, I have found that about 25% of short term up-trends end within 5 days. My 10:30 weekly charts - [Blog Post: Day 41 of $QQQ short term down-trend; 27 US highs, 5 lows and 10 ATHs; $QQQ remains in a Stage 4 decline and a daily BWR down-trend, see daily Guppy chart and description](https://wishingwealthblog.com/2025/04/blog-post-day-41-of-qqq-short-term-down-trend-27-us-highs-5-lows-and-10-aths-qqq-remains-in-a-stage-4-decline-and-a-daily-bwr-down-trend-see-daily-guppy-chart-and-description/) - It will take time to learn whether the April bottom will hold. When the GMI turns Green, I will consider long positions again. The dotted line in the chart below is the daily close. The red lines are the shorter daily averages and the blue lines are the longer term daily averages. BWR= red lines - [Blog Post: Day 38 of $QQQ short term down-trend; If one had bought $SQQQ on Day 1 of the down-trend, it would now be up +26% and beat all but 1 (NEM) of S&P500 stocks and all but 1 (MSTR) of Nasdaq100 stocks! QQQ is down-13.5%! See my strategy..](https://wishingwealthblog.com/2025/04/blog-post-day-38-of-qqq-short-term-down-trend-if-one-had-bought-sqqq-on-day-1-of-the-down-trend-it-would-now-be-up-26-and-beat-all-but-1-nem-of-sp500-stocks-and-all-but-1-mstr-of-nasdaq100/) - I find repeatedly that if I can buy TQQQ on Day 1 of a new QQQ short term up-trend and if the up-trend lasts, it beats almost all individual stocks. Similarly, SQQQ beats almost all individual stocks in a sustained down-trend. The key is to buy on Day 1 and hold, but to sell quickly - [Blog Post: Day 37 of $QQQ short term down-trend; only 56 US new lows, 39 highs and 14 ATHs; the dollar, $UUP, has been in a daily BWR decline since January, the opposite of $GLD, see daily Guppy charts](https://wishingwealthblog.com/2025/04/blog-post-day-37-of-qqq-short-term-down-trend-only-56-us-new-lows-39-highs-and-14-aths-the-dollar-uup-has-been-in-a-daily-bwr-decline-since-january-the-opposite-of-gld-see-daily-guppy-chart/) - No wonder gold, GLD, has been on a rampage! See daily Guppy charts of UUP and GLD. - [Blog Post: Day 36 of $QQQ short term down-trend; Major indexes reman in daily BWR down-trends, see as an example, daily Guppy chart of $QQQ](https://wishingwealthblog.com/2025/04/blog-post-day-36-of-qqq-short-term-down-trend-major-indexes-reman-in-daily-bwr-down-trends-see-as-an-example-daily-guppy-chart-of-qqq/) - [Blog Post: Day 34 of $QQQ short term down-trend; As I had suggested $SPY closed its gap on weekly chart and kissed its 4wk avg., see weekly chart; Indexes remain in a 4wk<10wk<30wk down-trend; Cash is King.](https://wishingwealthblog.com/2025/04/blog-post-day-34-of-qqq-short-term-down-trend-as-i-had-suggested-spy-closed-its-gap-on-weekly-chart-and-kissed-its-4wk-avg-see-weekly-chart-indexes-remain-in-a-4wk/) - Last week I posted that when a stock in a down-trend has a gap below the declining 4 wk average it often means the stock is extended on the down side and it will often rebound to close the gap. See on this weekly chart where the original gap was and that it has been - [Blog Post: Day 32 of $QQQ short term down-trend; 16 US new highs, 570 lows and 4 ATHs; Last night's $T2108 called the bounce, see monthly chart from yesterday and explanation](https://wishingwealthblog.com/2025/04/blog-post-day-32-of-qqq-short-term-down-trend-16-us-new-highs-570-lows-and-4-aths-last-nights-t2108-called-the-bounce-see-monthly-chart-from-yesterday-and-explanation/) - I forgot to post this chart Tuesday night. I tell my students to buy a little of SPY when T2108 declines below 10% and to hold their noses. It actually got below 4%. It is now 11%. I should have followed by own rule. We need a retest to see if this bottom holds. Bear - [Blog Post: Day 31 of $QQQ short term down-trend; In late February I posted this chart suggesting that $DIA had made a double top! $T2108 monthly chart is very oversold](https://wishingwealthblog.com/2025/04/blog-post-day-31-of-qqq-short-term-down-trend-in-late-february-i-posted-this-chart-suggesting-that-dia-had-made-a-double-top-t2108-monthly-chart-is-very-oversold/) - Here is my post from the day this chart was published on February 23. WOW!!!! T2108 is at 4%. This is an amazingly oversold market. See monthly chart. - [Blog Post: Day 30 of $QQQ short term down-trend; 837 US stocks at new yearly lows, 7 highs and 1 at ATH; T2108=5; $SPY back to last green line top, see weekly charts and gap below 4 wk avg.](https://wishingwealthblog.com/2025/04/blog-post-day-30-of-qqq-short-term-down-trend-837-us-stocks-at-new-yearly-lows-7-highs-and-1-at-ath-t21085-spy-back-to-last-green-line-top-see-weekly-charts-and-gap-below-4-wk-avg/) - A close below the green line would be a failure of the GLB in January 2024 and very ominous. Second weekly chart shows SPY has a gap below 4 wk average. Rebound to kiss 4 wk avg is likely. After it does, down-trend may resume. See second chart. - [Blog Post: Day 29 of $QQQ short term down-trend; T2108 declines to 7%, where bottoms tend to occur; We CAN time the market](https://wishingwealthblog.com/2025/04/blog-post-day-29-of-qqq-short-term-down-trend-t2108-declines-to-7-where-bottoms-tend-to-occur-we-can-time-the-market/) - The 10 week average of QQQ is now declining below its 30 week average, for the first time since February, 2023. That usually happens at the beginning of a major decline. And yet T2108 is at at 7%, an extremely oversold level where prior bottoms tended to occur. I am just about all in cash - [Blog Post: Day 28 of $QQQ short term down-trend; Any stock that can reach an ATH in the midst of this market carnage is worth monitoring; for example, check out $BJ](https://wishingwealthblog.com/2025/04/blog-post-day-28-of-qqq-short-term-down-trend-any-stock-that-can-reach-an-ath-in-the-midst-of-this-market-carnage-is-worth-monitoring-for-example-check-out-bj/) - BJ came up on my TC2000 scan when it had a blue dot (oversold bounce) 11 days after it had reached an ATH on a huge volume up day after earnings were released. After the bounce, BJ continued to hold throughout the subsequent market weakness and today traded at a new ATH. Stocks that can - [Blog Post: Day 27 of $QQQ short term down-trend; I hope some of you went to cash when I did; When people stop looking for a bottom we may be there. $QQQ and other indexes are in daily BWR down-trends, see chart](https://wishingwealthblog.com/2025/04/blog-post-day-27-of-qqq-short-term-down-trend-i-hope-some-of-you-went-to-cash-when-i-did-when-people-stop-looking-for-a-bottom-we-may-be-there-qqq-and-other-indexes-are-in-daily-bwr-down-trends/) - [Blog Post: Day 26 of $QQQ short term down-trend; For first time since February 2023, 10 wk avg of QQQ has closed below the 30 week avg--very ominous sign, see weekly 10:30 chart](https://wishingwealthblog.com/2025/04/blog-post-day-26-of-qqq-short-term-down-trend-for-first-time-since-february-2023-10-wk-avg-of-qqq-has-closed-below-the-30-week-avg-very-ominous-sign-see-weekly-1030-chart/) - The 10 wk average is now below the 30 week average for DIA, SPY, QQQ, IWM. This could mark the end of the 2 year up-trend that began in February, 2023. 10 wk avg (dotted line), 30 wk avg (red solid line) close (gray line). - [Blog Post: Day 24 of $QQQ short term down-trend; $IWM looks like it is at the BEGINNING of a Stage 4 down-trend, see weekly 10:30 chart; I am in cash and a little short](https://wishingwealthblog.com/2025/03/blog-post-day-24-of-qqq-short-term-down-trend-iwm-looks-like-it-is-at-the-beginning-of-a-stage-4-down-trend-see-weekly-1030-chart-i-am-in-cash-and-a-little-short/) - I have been alerting you for sometime to the weakness I have been seeing in stocks. I refused to ride out the market declines in 2000, 2008 and 2022. I tell my young students that they can afford to stay invested in SPY when the market declines because the market, but not all individual stocks, - [Blog Post: Day 23 of $QQQ short term down-trend; $GLD has been in a daily RWB up-trend since January, see daily modified Guppy chart](https://wishingwealthblog.com/2025/03/blog-post-day-23-of-qqq-short-term-up-trend-gld-has-been-in-a-daily-rwb-up-trend-since-january-see-daily-modified-guppy-chart/) - We really should look at the daily and weekly modified Guppy chart before buying or selling anything. A RWB up-trend is when the 6 shorter term averages (red) are rising above the longer term averages (blue) so that there is a white band separating them. The dotted ine is the daily or weekly close, depending - [Blog Post: Day 22 of $QQQ short term down-trend; After the recent bounce we see if indexes can hold March lows; see daily modified Guppy chart of $QQQ and its ominous 10:30 weekly chart](https://wishingwealthblog.com/2025/03/blog-post-day-22-of-qqq-short-term-down-trend-after-the-recent-bounce-we-see-if-indexes-can-hold-march-lows-see-daily-modified-guppy-chart-of-qqq-and-its-ominous-1030-weekly-chart/) - We knew there would be a bounce back up from the large March decline. The key to the market's direction will be whether the indexes can hold their March lows and retake their recent highs. See the modified daily Guppy chart of QQQ. Time will tell, but for now QQQ remains in a BWR decline. - [Blog Post: Day 19 of $QQQ short term down-trend; With my GMI=0 (of 6), there is no reason for me to be investing long; I found only 2 US stocks of 6,000 at an ATH on Friday; the odds are against my going long; and small stocks, $IWM, look on verge of Stage 4 decline, see weekly chart](https://wishingwealthblog.com/2025/03/blog-post-day-19-of-qqq-short-term-down-trend-with-my-gmi0-of-6-there-is-no-reason-for-me-to-be-investing-long-i-found-only-2-us-stocks-of-6000-at-an-ath-on-friday-the-odds-are-against-my-g/) - When the 30 week average curves down, it means the current week's close just added is less then its close 31 weeks earlier that has just been dropped from the average. Think of it, IWM is now lower than it was 31 weeks ago! For me this pattern is the kiss of death that got - [Blog Post: Day 18 of $QQQ short term down-trend; Two exchange stocks, $ICE and $CME have been reaching ATHs after their GLBs, see adapted daily Guppy and monthly charts.](https://wishingwealthblog.com/2025/03/blog-post-day-18-of-qqq-short-term-down-trend-two-exchange-stocks-ice-and-cme-have-been-reaching-aths-after-their-glbs-see-adapted-daily-guppy-and-monthly-charts/) - It is noteworthy when two stocks in a similar industry are zooming to ATHs in a weak market. Note their green lines and that they each closed (dotted line) above all 12 averages, in RWB up-trends. Note earnings release dates on each chart, 4/23 and 5/1. Check them out, and monthly charts below. And monthly - [Blog Post: Day 17 of $QQQ short term down-trend; More US new highs than lows for last 3 days in this bounce; Major indexes converging with their declining 4 wk averages, thus less oversold; see weekly chart of SPY and daily Guppy chart](https://wishingwealthblog.com/2025/03/blog-post-day-17-of-qqq-short-term-down-trend-more-us-new-highs-than-lows-for-last-3-days-in-this-bounce-major-indexes-converging-with-their-declining-4-wk-averages-thus-less-oversold-see-weekly/) - I told you that when a declining stock has its weekly high far below its declining 4 wk avg (red dotted line) the stock usually converges back with the average. That is happening thise week with the major indexes. See oval in this chart of SPY. It is likely that once the two kiss, the - [Blog Post: Day 16 of $QQQ short term down-trend; While US stocks are weak, europe is growing, German Index ETF, $EWG, had a recent GLB and is climbing to ATHs.](https://wishingwealthblog.com/2025/03/blog-post-day-16-of-qqq-short-term-down-trend-while-us-stocks-are-weak-europe-is-growing-german-index-etf-ewg-had-a-recent-glb-and-is-climbing-to-aths/) - Sometimes we have to look beyond US stocks. Europe is growing. Note EWG's recent GLB. I have a small position. - [Blog Post: Day 14 of $QQQ short term down-trend; Finally got the bounce, will it hold? Hint: No one knows, but the GMI =0 and RED. Check out my 10:30 weekly chart of $SPY and how I use it to analyze the market.](https://wishingwealthblog.com/2025/03/blog-post-day-14-of-qqq-short-term-down-trend-finally-got-the-bounce-will-it-hold-hint-no-one-knows-but-the-gmi-0-and-red-check-out-my-1030-weekly-chart-of-spy-and-how-i-use-it-to-analyze-t/) - I have lived through many market declines since the 60s. The current decline is small and yet the omniscient media cry out that a market crash has occurred. No one knows how long the current decline will last and it is possible that it is at the beginning, rather than the end. I have to - [Blog Post: Day 11 of $QQQ short term down-trend; Only 6 at ATH out of 6000+ US stocks; Buying stocks at an ATH is very risky now; Stocks with a gap below their declining 10 week averages are oversold and often climb back to kiss their 4wk average before continuing their decline or bottoming; see weekly chart of $SPY](https://wishingwealthblog.com/2025/03/blog-post-day-11-of-qqq-short-term-down-trend-only-6-at-ath-out-of-6000-us-stocks-buying-stocks-at-an-ath-is-very-risky-now-stocks-with-a-gap-below-their-declining-10-week-averages-are-oversold/) - The circles in the chart show where there is a gap (a space) between the 4 wk average (red dotted line) and the week's high. That is often a sign of an oversold stock and the declining stock will often rise to kiss its 4 wk average before continuing its decline. The opposite is true - [Blog Post: Compared with the decline in 2022, the current decline is just getting started. All stocks are bad unless they are going up, and the psychology has turned and we have been buying tulips.](https://wishingwealthblog.com/2025/03/blog-post-compared-with-the-decline-in-2022-the-current-decline-is-just-getting-started-all-stocks-are-bad-unless-they-are-going-up-and-the-psychology-has-turned-and-we-have-been-buying-tulips/) - In May 1970 (I think), I read in the Wall Street Journal "Heard on the Street" column that the author was sure that the current steep market decline had further to go. That day was the bottom! So many pundits are searching for the market's bottom. I think that when they all give up and - [Bg Post: Day 9 of $QQQ short term down-trend; Since day 1, QQQ is down -4.2% and SQQQ is up +12.7%. SQQQ has advanced more than all but one of Nasdaq100 stocks (MSTR) and all of the S&P500 stocks! Trading TQQQ or SQQQ at Day 1 of a QQQ short term up-trend or down-trend beats most individual stocks. See also 2 charts.](https://wishingwealthblog.com/2025/03/bg-post-day-9-of-qqq-short-term-down-trend-since-day-1-qqq-is-down-4-2-and-sqqq-is-up-12-7-sqqq-has-advanced-more-than-all-but-one-of-nasdaq100-stocks-mstr-and-all-of-the-sp500-stocks-trad/) - I have shown repeatedly that buying the triple leveraged ETF, TQQQ, in a QQQ short term up-trend beats almost all individual stocks. The same can be true for buying the inverse ETF, SQQQ, on Day 1 of a QQQ short term down-trend. The problem is that this is very difficult to do. Day 1, by - [Blog Post: Day 8 of $QQQ short term down-trend; 28 US new highs, 81 lows and 5 at ATH; I will resist the inevitable sudden bear market bounces and remain safely in cash.](https://wishingwealthblog.com/2025/03/blog-post-day-8-of-qqq-short-term-down-trend-28-us-new-highs-81-lows-and-5-at-ath-i-will-resist-the-inevitable-sudden-bear-market-bounces-and-remain-safely-in-cash/) - With the Wall Street Journal talking about a possible depression and the ominous technical picture I see, it is best for me to be on the sidelines in cash. I have gone to cash in my trading accounts and reduced my exposure to equities in my university retirement accounts and will sell the rest when - [Blog Post: Day 6 of $QQQ short term down-trend; GMI=0; Gold ($GLD) has been one of the best places to take cover from the market's weakness, see daily charts of RWB pattern and blue dot indicator..](https://wishingwealthblog.com/2025/03/blog-post-day-6-of-qqq-short-term-down-trend-gmi0-gold-gld-has-been-one-of-the-best-places-to-take-cover-from-the-markets-weakness-see-daily-charts-of-rwb-pattern-and-blue-dot-indicator/) - All of the shorter term averages (red) are rising above the longer term averages (blue) in a RWB up-trend. The daily closes are shown by the dotted line. Note the oversold bounce marked by a blue dot in the second daily chart. I plan to explain my blue dot indicator in my presentation at the - [Blog Post: Day 5 of $QQQ short term down-trend but $QQQ closes below 30 week average, a major sign of technical weakness.](https://wishingwealthblog.com/2025/03/blog-post-day-5-of-qqq-short-term-down-trend-but-qqq-closes-below-30-week-average-a-major-sign-of-technical-weakness/) - With QQQ now below its 30 week average, the Stage 2 up-trend is in serious jeopardy. I have begun to transfer university retirement accounts out of mutual funds. I do not want to give up the substantial gains they made the past 2 years. I would rather be safe than sorry. If the market holds - [Blog Post: Day 4 of $QQQ short term down-trend; GMI=1, see table; Look for leaders among those hitting ATHs; See list of 14 promising stocks at ATHs on Friday, 5 of them are in insurance industry, see daily chart of one of them, $PLMR.](https://wishingwealthblog.com/2025/03/blog-post-day-4-of-qqq-short-term-down-trend-gmi1-see-table-look-for-leaders-among-those-hitting-aths-see-list-of-14-promising-stocks-at-aths-on-friday-5-of-them-are-in-insurance-industry-se/) - These 13 stocks on my list of 559 promising stocks reached an all-time high, ATH, on Friday. They are ranked in descending order of the last column, close today divided by close 250 days ago. Only one of them, CCB, is more than twice its price a year ago. The fact that 5 of them, - [Blog Post: Day 24 of $QQQ short term up-trend, likely to end on Tuesday; GMI=2 and flashes RED; $TSLA and $MSFT in daily BWR declines, see charts; Cash is king!](https://wishingwealthblog.com/2025/02/blog-post-day-24-of-qqq-short-term-up-trend-likely-to-end-on-tuesday-gmi2-and-flashes-red-tsla-and-msft-in-daily-bwr-declines-see-charts-cash-is-king/) - I would not look for one stock, NVDA, to preserve this bull. After 2 years of 20%+ gains in the stock market, we should be prepared for a reversion to the mean. TSLA and MSFT are now in daily BWR declines. Perhaps the last to go will be AAPL. My university retirement funds remain in - [Blog post: Day 23 of $QQQ short term up-trend but GMI falls to 2 and could flash RED on Monday; Has $DIA formed a double top?, see weekly chart.](https://wishingwealthblog.com/2025/02/blog-post-day-22-of-qqq-short-term-up-trend-but-gmi-falls-to-2-and-could-flash-red-on-monday-has-dia-formed-a-double-top-see-weekly-chart/) - The leaders are swooning and this is not the time for me to be brave and stay in long positions. There were only 11 US stocks trading at ATHs on Friday. So purchasing stocks at ATHs is not for me. Also, DIA may be forming a double top. DIA has now closed below its 10 - [Blog Post: Day 21 of $QQQ short term up-trend; 127 US stocks at yearly highs, 46 at ATHs and 70 new lows; Recent IPO, $MRX, has doubled without ever forming a green line top! Check out its monthly and weekly charts](https://wishingwealthblog.com/2025/02/blog-post-day-21-of-qqq-short-term-up-trend-127-us-stocks-at-yearly-highs-46-at-aths-and-70-new-lows-recent-ipo-mrx-has-doubled-without-ever-forming-a-green-line-top-check-out-its-monthly-and/) - MRX has IBD comp=EPS=99 and RS=96. It never rested at least 3 months for me to be able to draw in a green line! It has already doubled in 11 months, as this monthly chart shows. The weekly chart shows the typical pattern of a strong stock. Since August, it has closed mostly above its - [Blog Post: Day 19 of $QQQ short term up-trend, short and long term up-trends intact; What happened to $DAL after its GLB?](https://wishingwealthblog.com/2025/02/blog-post-day-19-of-qqq-short-term-up-trend-short-and-long-term-up-trends-intact-what-happened-to-dal-after-its-glb/) - Last Wednesday I posted that DAL looked promising after it had an oversold bounce (blue dot). Then on Thursday the stock tanked and traded below the green line. I would have been stopped out because the bounce failed. But DAL held the green line and rose on Friday. I have written many times that the - [Blog Post: Day 17 of $QQQ short term up-trend; $DAL had a recent GLB and just bounced from oversold, if I bought it I would place a stop just below the low of the bounce @63.94, study these daily and weekly charts](https://wishingwealthblog.com/2025/02/blog-post-day-17-of-qqq-short-term-up-trend-dal-had-a-recent-glb-and-just-bounced-from-oversold-if-i-bought-it-i-would-place-a-stop-just-below-the-low-of-the-bounce-63-94-study-these-daily-and/) - I love this setup. Find a stock that had a recent GLB to an ATH and then declined to oversold (the blue and black dots on the chart designate oversold levels) and has bounced up. Today's setup would enable me to place a close stop just under yesterday's low. If my stop is triggered, I - [Blog Post: Day 14 of $QQQ short term up-trend; GMI remains on a Green signal; But many breakouts have failed; I remain defensive and mainly in cash in my trading accounts](https://wishingwealthblog.com/2025/02/blog-post-day-14-of-qqq-short-term-up-trend-gmi-remains-on-a-green-signal-but-many-breakouts-have-failed-i-remain-defensive-and-mainly-in-cash-in-my-trading-accounts/) - [Blog Post: Day 13 of $QQQ short term up-trend; $TPR had a huge volume GLB Thursday on good earnings; see weekly and daily charts](https://wishingwealthblog.com/2025/02/blog-post-day-13-of-qqq-short-term-up-trend-tpr-had-a-huge-volume-glb-thursday-on-good-earnings-see-weekly-and-daily-charts/) - IBD stats: RS=97, Comp=97, EPS=92. But TPR closed near low of day after huge gap up. Note above average weekly volume after just 4 days of the week. Must not close below green line @79.70. - [Blog Post: Day 12 of $QQQ short term up-trend; 4 stocks are having a GLB this week: $ACI, $JCI, $ATEN, $CRWD, check them out! See their weekly charts below.](https://wishingwealthblog.com/2025/02/blog-post-day-12-of-qqq-short-term-up-trend-4-stocks-are-having-a-glb-this-week-aci-jci-aten-crwd-check-them-out-see-their-weekly-charts-below/) - [Bog Post: Day 11 of $QQQ short term up-trend; 114 US new highs, 57 lows and 50 ATH; $CRWD retakes green line; will it hold?](https://wishingwealthblog.com/2025/02/bog-post-day-11-of-qqq-short-term-up-trend-114-us-new-highs-57-lows-and-50-ath-crwd-retakes-green-line-will-it-hold/) - CRWD has great IBD ratings: EPS=97, RS=92 and Comp=98. Must not CLOSE below green line, at 398.33. I have a small position. - [Blog Post: Day 10 of $QQQ short term up-trend; 66 US new highs and 113 lows and 31 ATHs; GMI declines to 3, of 6; 7 doublers at ATH and weekly chart of $EAT](https://wishingwealthblog.com/2025/02/blog-post-day-10-of-qqq-short-term-up-trend-66-us-new-highs-and-113-lows-and-31-aths-gmi-declines-to-3-of-6-7-doublers-at-ath-and-weekly-chart-of-eat/) - This market is limping along. The GMI is still Green but the $QQQ short term up-trend is bearly (haha) intact. The GMI2 which contains very sensitive components is down to 1. Still, I found 7 doublers that reached an ATH on Monday. They are sorted by the last column which measures close Monday divided by - [Blog Post: Day 9 of $QQQ short term up-trend and GMI=5, but tariffs are shaking up the market with futures way down, I am in cash in my trading IRA.](https://wishingwealthblog.com/2025/02/blog-post-day-9-of-qqq-short-term-up-trend-and-gmi5-but-tariffs-are-shaking-up-the-market-with-futures-way-down-i-am-in-cash-in-my-trading-ira/) - [Blog Post: Day 8 of $QQQ short term up-trend; Since January 10, SPY is up +2.6% but equal wt RSP is up +5.5%; QQQ +3.1% but QQQE +5%. These cap weighted indexes are now masking the strength in the other stocks! Rotation has begun. Time for me to reinvest!](https://wishingwealthblog.com/2025/01/blog-post-day-8-of-qqq-short-term-up-trend-since-january-10-spy-is-up-2-6-but-equal-wt-rsp-is-up-5-5-qqq-3-1-but-qqqe-5-these-cap-weighted-indexes-are-now-masking-the-strength-in-the-other/) - Each day large numbers of stocks have been hitting 52 week highs and all-time-highs, unlike the AI related and most other leading stocks. NVDA, MSFT and TSLA have been weighing down the cap weighted indexes. The cap weighted indexes are now masking the progress in the other stocks. This is the exact opposite of what - [Blog Post: Day 6 of $QQQ short term up-trend; $CRWD had a GLB today on above average volume, see daily chart](https://wishingwealthblog.com/2025/01/blog-post-day-6-of-qqq-short-term-up-trend-crwd-had-a-glb-today-on-above-average-volume-see-daily-chart/) - CRWD must not close below green line, @398.33. I tweeted about this GLB intraday. Follow me on X @WishingWealth - [Blog Post: Day 4 of $QQQ short term up-trend, but it may end Tuesday; $QQQ falls back into channel](https://wishingwealthblog.com/2025/01/blog-post-day-4-of-qqq-short-term-up-trend-but-it-may-end-tuesday-qqq-falls-back-into-channel/) - I am back in cash. I am a chicken. This high volume gap down could be the beginning of a major decline. They shoot the leaders first. Stay tuned... - [Blog Post: Day 4 of $QQQ short term up-trend and GMI remains Green; $NNE had a high volume recent IPO GLB, see weekly and daily charts](https://wishingwealthblog.com/2025/01/blog-post-day-4-of-qqq-short-term-up-trend-amd-gmi-remains-green-nne-had-a-high-volume-recent-ipo-glb-see-weekly-and-daily-charts/) - NNE, which came public in 2024, had a GLB to an ATH on high volume last week. See the weekly and daily charts. Its RS=99 but it has no earnings. It is in the hot nuclear energy sector and is worth researching. Someone knows something to result in such high volume buying. The GMI=5 and - [Blog Post: Day 3 of $QQQ short term up-trend; 139 US stocks at new highs, 25 at lows and 56 at ATH; 15 stocks with weekly green bar setup, see description of setup and weekly chart of $RKLB](https://wishingwealthblog.com/2025/01/blog-post-day-3-of-qqq-short-term-up-trend-139-us-stocks-at-new-highs-25-at-lows-and-56-at-ath-15-stocks-with-weekly-green-bar-setup-see-description-of-setup-and-weekly-chart-of-rklb/) - Weekly green bar setup is stocks with 4w>10wk>30wk averages that bounced up off of their 4 week averages and had Relative Strength (SPY) at a 20 week high and reached an ATH in the past 3 months. This list is sorted by close Thursday/close 250 days ago, shown in last column. RKLB is one example. - [Blog Post: Day 1 of new $QQQ short term up-trend and GMI turns Green; Accumulating $TQQQ slowly](https://wishingwealthblog.com/2025/01/blog-post-day-1-of-new-qqq-short-term-up-trend-and-gmi-turns-green-accumulating-tqqq-slowly/) - It looks like the consolidation is over. I am slowly accumulating TQQQ as long as QQQ is rising. My analyses over the years have demonstrated repeatedly that during a rise in QQQ, TQQQ rises about 3x as much and beats more than 90% of individual stocks. This daily chart shows that QQQ has broken out - [Blog Post: Day 12 of $QQQ short term down-trend; but it could end Monday and the GMI could also flash Green; On Friday there were 128 US new highs, 11 lows and 48 at ATH; $VITL is approaching GLB; Back from Mark Minervini's exciting 60th Birthday Gala](https://wishingwealthblog.com/2025/01/blog-post-day-12-of-qqq-short-term-down-trend-but-it-could-end-monday-and-the-gmi-could-also-flash-green-on-friday-there-were-128-us-new-highs-11-lows-and-48-at-ath-vitl-is-approaching-glb-ba/) - I spent Saturday and Sunday at Mark's tremendous Gala and 60th birthday party. I met hundreds of wonderful people enrolled in Mark's programs and I spoke on the green line break-out (GLB) strategy. Attendees were excited to hear how I developed the GLB and apply it. I was very grateful for their warmm response. Friday's - [Blog Post: Day 11 of $QQQ short term down-trend; $QQQ remains in a downward channel, see yesterday's post; $AAPL has a failed GLB again, see its daily chart and the weekly chart of $NVDA](https://wishingwealthblog.com/2025/01/blog-post-day-11-of-qqq-short-term-down-trend-qqq-remains-in-a-downward-channel-see-yesterdays-post-aapl-has-a-failed-glb-again-see-its-daily-chart-and-the-weekly-chart-of-nvda/) - QQQ continues to decline within the downward sloping channel I described in my post last night. Another sign of potential weakness is the fact that AAPL closed Thursday again below its green line. AAPL had a GLB on 11/29. The green line top was at 237.23. After a recent GLB failure, the attempt to stay - [Blog Post: Day 10 of $QQQ short term down-trend; Is this a dead cat bounce? $QQQ will need to break out of this channel to suggest a real turn up. I am presenting about GLBs at the Minervini Birthday Gala in Myrtle Beach on Friday.](https://wishingwealthblog.com/2025/01/blog-post-day-10-of-qqq-short-term-down-trend-is-this-a-dead-cat-bounce-qqq-will-need-to-break-out-of-this-channel-to-suggest-a-real-turn-up-i-am-presenting-about-glbs-at-the-minervini-birthday/) - QQQ has found support at its lower 2.15 Bollinger Band again but it remains in a descending channel. A convincing close above this upper channel, now around 522-23 would suggest to me a real change in trend. Or is this an earnings release rally that will fade after most earnings are out? A post release - [Blog Post: Day 8 of $QQQ short term down-trend; Earnings season bounce is here; $AAPL is no longer in a daily RWB up-trend, see modified GMMA charts of $AAPL, $TSLA, $NVDA and $SPY](https://wishingwealthblog.com/2025/01/blog-post-day-8-of-qqq-short-term-down-trend-earnings-season-bounce-is-here-aapl-is-no-longer-in-a-daily-rwb-up-trend-see-modified-gmma-charts-of-aapl-tsla-nvda-and-spy/) - A daily RWB (red/white/blue) is a pattern of an advancing stock. In a daily RWB up-trend, the daily close (dotted line) leads all 12 short (red) and longer term (blue) averages higher, with a white space between them. Clearly, AAPL is no longer in a daily RWB up-trend. TSLA's daily RWB up-trend has also ended. - [Blog Post: Short term indicators are so oversold, dead cat bounce is likely as earnings are released; 20 yr treasuries in daily BWR down-trend=higher interest rates, see chart](https://wishingwealthblog.com/2025/01/blog-post-short-term-indicators-are-so-oversold-dead-cat-bounce-is-likely-as-earnings-are-released-20-yr-treasuries-in-daily-bwr-down-trendhigher-interest-rates-see-chart/) - With bonds in a steep decline, the market will have competition from higher interest rates. This chart shows a daily RWB down-trend. With the GMI=1, I am mainly in cash in my trading accounts. There were only 45 US new highs and 218 lows on Friday. This is not a market for me to buy - [Blog Post: Day 6 of $QQQ short term down-trend; 144 US stocks at new lows and 42 at highs; $QQQ,$SPY,$DIA and $IWM now below 10 week averages; Moving to $SQQQ, $TBIL and cash in trading accounts; See 2 charts](https://wishingwealthblog.com/2025/01/blog-post-day-6-of-qqq-short-term-down-trend-144-us-stocks-at-new-lows-and-42-at-highs-qqqspydia-and-iwm-now-below-10-week-averages-moving-to-sqqq-tbil-and-cash-in-trading-accounts-see/) - Too many of my short term indicators have weakened for me to buy stocks near ATHs. When more stocks are reaching 52 week lows than highs it is a signal of weakness. I never try to predict the market. I only look at what Mr. Market is telling me now. The market remains above its - [Blog Post: Day 3 of $QQQ short term down-trend, but will this bounce hold? $QQQ retakes 10 week average but still more US stocks at new lows than highs and GMI=2](https://wishingwealthblog.com/2025/01/blog-post-day-3-of-qqq-short-term-down-trend-but-will-this-bounce-hold-qqq-retakes-10-week-average-but-still-more-us-stocks-at-new-lows-than-highs-and-gmi2/) - I will not post again until next Tuesday. I sold my SQQQ today after the strong showing of QQQ. I have noted that about 40% of the new QQQ short term down-trends end within 5 days. Let's see what happens early next week. Screenshot - [Blog Post: Day 1 of new $QQQ short term down-trend; GMI=1; Market internals are very weak; See adapted daily GMMA chart of $RSP, the equal weighted ETF for SPY; Be defensive and control losses; Happy New Year!](https://wishingwealthblog.com/2025/01/blog-post-day-1-of-new-qqq-short-term-down-trend-gmi1-market-internals-are-very-weak-see-adapted-daily-gmma-chart-of-rsp-the-equal-weighted-etf-for-spy-be-defensive-and-control-losses-happy/) - Thursday should be an interesting day. QQQ has now closed below its 10 week average and my QQQ short term trend indicator has turned down. However, about 40% of new QQQ short term down-trends have ended before 5 days. I own a little SQQQ, which rises when QQQ declines, and will add more only if - [Blog Post: $QQQ short term up-trend could end on Tuesday; My indicators are very weak; 4 times more new lows than highs, only 6 ATHs; beware January](https://wishingwealthblog.com/2024/12/blog-post-qqq-short-term-up-trend-could-end-on-tuesday-my-indicators-are-very-weak-4-times-more-new-lows-than-highs-only-6-aths-beware-january/) - Many persons holding large gains may be waiting to sell in the new tax year. The market internals are terrible, with most stocks declining. I am mainly in cash or TBIL in my trading accounts and prefer to watch from the sidelines. If Tuesday leads to a new QQQ short term down-trend I will slowly - [Blog Post: Day 36 of $QQQ short term up-trend; With the GMI= RED and only 20% of Nasdaq 100 stocks rising on Friday, time to be very careful; Only 5 stocks at ATH and more new lows than highs.](https://wishingwealthblog.com/2024/12/blog-post-day-36-of-qqq-short-term-up-trend-with-the-gmi-red-and-only-20-of-nasdaq-100-stocks-rising-on-friday-time-to-be-very-careful-only-5-stocks-at-ath-and-more-new-lows-than-highs/) - While the market indexes remain above key moving averages, I am concerned about what is happening under the hood. Few stocks are hitting 52 week highs or all-time highs. There were more lows than highs on Friday. And the GMI=2 and is flashing RED. I remain mainly in cash in my trading accounts. I will - [Blog Post: Day 35 of $QQQ short term up-trend; $SOUN reached ATH again after successfully retesting its GLB; $RGTI has a GLB, see charts](https://wishingwealthblog.com/2024/12/blog-post-day-35-of-qqq-short-term-up-trend-soun-reached-ath-again-after-successfully-retesting-its-glb-rgti-has-a-glb-see-charts/) - On December 16 and 18 I told you about SOUN, which my stock buddy, Judy, loves. You can search my blog to find the posts. On Thursday it hit another ATH on above average trading volume. I have a position and will exit if it CLOSES below its green line, at 18.14. SOUN is 10.9x - [Blog Post: $QQQ short term up-trend continues but the GMI remains RED; On Friday, QQQ and 75% of its stocks traded at or below their 15.2 daily lower Bollinger Bands. Friday's low for QQQ, 509.29, needs to hold. See my weekly 10:30 and daily modified GMMA charts; Santa rally?](https://wishingwealthblog.com/2024/12/blog-post-qqq-short-term-up-trend-continues-but-the-gmi-remains-red-on-friday-qqq-and-75-of-its-stocks-traded-at-or-below-their-15-2-daily-lower-bollinger-bands-fridays-low-for-qqq-509-29-ne/) - Friday was Day 32 of the current QQQ short term up-trend; It held. However, 79% of the Nasdaq 100 stocks advanced, compared with 58% of all US stocks. Growth stocks are again leading the market up. But my GMI=2 and is RED for the second day. QQQ, DIA, IWM and SPY reached very oversold levels - [Blog Post: The $QQQ short term up-trend may end Friday; GMI has flashed RED; When asked why he did not short stocks during declining markets, the great trader, Nicolas Darvas, answered thus; I share this quote with my class of undergraduates each year](https://wishingwealthblog.com/2024/12/blog-post-the-qqq-short-term-up-trend-may-end-friday-gmi-has-flashed-red-when-asked-why-he-did-not-short-stocks-during-declining-markets-the-great-trader-nicolas-darvas-answered-thus-i-share-t/) - Nicolas Darvas and William O'Neil did not fight the general market's trend.I find it so much easier to ride stocks profitably when they are surging to new highs when my GMI>=5. The General Market Index (GMI) is now 2. I am mostly in cash in my trading accounts. - [Blog Post: Market swoon takes GMI down to 2, it could turn Red on Thursday; $T2108 fell to 18%; however, $SOUN showed amazing relative strength, rising +7.5%, reaching an ATH and holding its green line on above average volume, see daily chart](https://wishingwealthblog.com/2024/12/blog-post-market-swoon-takes-gmi-down-to-2-it-could-turn-red-on-thursday-t2108-fell-to-18-however-soun-showed-amazing-relative-strength-rising-7-5-reaching-an-ath-and-holding-its-green-line/) - [Blog Post: Day 29 of $QQQ short term up-trend, but it is a Tale of Two Markets; big cap stocks are distorting the cap weigthed indexes; see modified daily GMMA charts of the cap weighted $SPY compared with the equal weighted $RSP and $DIA, see $TSLA and $AAPL](https://wishingwealthblog.com/2024/12/blog-post-day-29-of-qqq-short-term-up-trend-but-it-is-a-tale-of-two-markets-big-cap-stocks-are-distorting-the-cap-weigthed-indexes-see-modified-daily-gmma-charts-of-the-cap-weighted-spy-compared/) - The SPY ETF represents the cap weighted S&P500 index. Thus the large cap stocks drive this ETF. The SPY is in a daily RWB up-trend, driven by the few rising popular big cap stocks. - [Blog Post: Day 27 of $QQQ short term up-trend; 123 new US highs, 101 lows and 43 at ATH; AI stock $SOUN has GLB on above average volume, see amazing daily and monthly charts](https://wishingwealthblog.com/2024/12/blog-post-day-27-of-qqq-short-term-up-trend-123-new-us-highs-101-lows-and-43-at-ath-ai-stock-soun-has-glb-on-above-average-volume-see-amazing-daily-and-monthly-charts/) - My stock buddy, Judy, has been singing the praises of SOUN for some time. It is 9x its price a year ago. Look at these daily and monthly charts. Note the volume spikes. - [Blog Post: GMI declines to 4 of 6; More US stocks at yearly lows than highs on Friday (96 vs. 74); but $QQQ is at 27th day of short term up-trend; $NVDA is no longer in RWB up-trend and looking weak, see daily GMMA chart](https://wishingwealthblog.com/2024/12/blog-post-gmi-declines-to-4-of-6-more-us-stocks-at-yearly-lows-than-highs-on-friday-96-vs-74-but-qqq-is-at-27th-day-of-short-term-up-trend-nvda-is-no-longer-in-rwb-up-trend-and-looking-weak/) - NVDA has now closed below all 12 moving averages. (Dotted line is close.) It has also failed to hold its green line. The GM is now at 4. The successful new high component is now negative and there were fewer than 100 new highs on Friday. - [Blog Post: Day 26 of $QQQ short term up-trend; $QQQ remains in a daily RWB up-trend](https://wishingwealthblog.com/2024/12/blog-post-day-26-of-qqq-short-term-up-trend-qqq-remains-in-a-daily-rwb-up-trend/) - [Blog Post: Day 25 of $QQQ short term up-trend; up-trend is intact; On Wednesday, $TSLA finally had a GLB; see daily and monthly charts](https://wishingwealthblog.com/2024/12/blog-post-day-25-of-qqq-short-term-up-trend-up-trend-is-intact-on-wednesday-tsla-finally-had-a-glb-see-daily-and-monthly-charts/) - GLB with above average volume. A close below the green line @414.49, would be a failed GLB. - [Blog Post: $CECO held its GLB last week, see weekly chart; The GMI remains Green and at 6 (of 6).](https://wishingwealthblog.com/2024/12/blog-post-ceco-held-its-glb-last-week-see-weekly-chart-the-gmi-remains-green-and-at-6-of-6/) - [Blog Post: Day 18of $QQQ short term up-trend; $AAPL has low volume GLB, see chart](https://wishingwealthblog.com/2024/12/blog-post-day-18of-qqq-short-term-up-trend-aapl-has-low-volume-glb-see-chart/) - But I would like to see more volume. - [Blog Post: Day 17 of $QQQ short term up-trend; This daily chart shows how one could have entered $APP when it had a GLB (green line break-out) last September. My GLB tracker table below shows, a GLB can really be a terrific set-up. My GMI is still 6 and Green.](https://wishingwealthblog.com/2024/12/blog-post-day-17-of-qqq-short-term-up-trend-this-daily-chart-shows-how-one-could-have-entered-app-when-it-had-a-glb-green-line-break-out-last-september-my-glb-tracker-table-below-shows-a-glb/) - APP had a high volume GLB on September 17, 2024. And below is the GMI table. - [Blog Post: Day 13 of $QQQ short term up-trend; GMI= Green and 6 (of 6); GLB and green dot called recent advance of $IBIT, see daily chart and monthly chart with flag pattern.](https://wishingwealthblog.com/2024/11/blog-post-day-13-of-qqq-short-term-up-trend-gmi-green-and-6-of-6-glb-and-green-dot-called-recent-advance-of-ibit-see-daily-chart-and-monthly-chart-with-flag-pattern/) - The start of the recent advance in bitcoin was marked by an unusually high volume green line break-out (GLB) and a green dot showing a Stochastic 10.4 and 10.4.4 crossover. I noted when it happened that it looked like a promising "flag" pattern, see monthly chart. The "N" designates a note I entered in TC2000 - [Blog Post: Day 12 of $QQQ short term up-trend; 292 US new highs, 136 ATHs and 40 lows; $CCJ rises after cup with handle and recent GLB, see daily and weekly charts.](https://wishingwealthblog.com/2024/11/blog-post-day-12-of-qqq-short-term-up-trend-292-us-new-highs-136-aths-and-40-lows-ccj-rises-after-cup-with-handle-and-recent-glb-see-daily-and-weekly-charts/) - [Blog Post: Day 10 of $QQQ short term up-trend; Here is a list of 17 growth stocks that reached an ATH on Tuesday, ranked by appreciation from a year ago; $APP is up 8x, see monthly chart and GLB in September at $116.09](https://wishingwealthblog.com/2024/11/blog-post-day-10-of-qqq-short-term-up-trend-here-is-a-list-of-17-growth-stocks-that-reached-an-ath-on-tuesday-ranked-by-appreciation-from-a-year-ago-app-is-up-8x-see-monthly-chart-and-glb-in-se/) - [Blog Post: Day 8 of $QQQ short term up-trend, it could end on Monday; But my 10:30 weekly chart of $QQQ shows a continuing longer term up-trend.](https://wishingwealthblog.com/2024/11/blog-post-day-8-of-qqq-short-term-up-trend-it-could-end-on-monday-but-my-1030-weekly-chart-of-qqq-shows-a-continuing-longer-term-up-trend/) - While my short term QQQ trend indicator might turn down on Monday, QQQ closed (gray line) above it 10 week average (dotted line)and its 10 week average is climbing above its rising 30 week average (red line). - [Blog Post: Day 6 of $QQQ short term up-trend; the dollar is climbing as long term treasuries and gold decline, see daily adapted Guppy charts](https://wishingwealthblog.com/2024/11/blog-post-day-6-of-qqq-short-term-up-trend-the-dollar-is-climbing-as-long-term-treasuries-and-gold-decline-see-daily-adapted-guppy-charts/) - Falling bonds means rising interest rates and the dollar climbs in value and gold declines. (It takes fewer dollars to buy gold.) - [Blog Post: Day 5 of $QQQ short term up-trend; $SPOT surged Tuesday after recent GLB and post-market after releasing earnings; Buying stocks at an ATH after a GLB can work!](https://wishingwealthblog.com/2024/11/blog-post-day-5-of-qqq-short-term-up-trend-spot-surged-tuesday-after-recent-glb-and-post-market-after-releasing-earnings-buying-stocks-at-an-ath-after-a-glb-can-work/) - Note the extraordinary trading volume on Tuesday. SPOT is trading around $448 after hours. - [Blog Post: Day 4 of $QQQ short term up-trend; $PANW has cup and handle and GLB to ATH, to report earnings on 11/20](https://wishingwealthblog.com/2024/11/blog-post-day-4-of-qqq-short-term-up-trend-panw-has-cup-and-handle-and-glb-to-ath-to-report-earnings-on-11-20/) - [Blog Post: Day 3 of $QQQ short term up-trend; my 10:30 weekly chart shows that $QQQ remains in a long term up-trend that began in April, 2023 and the GMI = 6 (of 6) and GREEN](https://wishingwealthblog.com/2024/11/blog-post-day-3-of-qqq-short-term-up-trend-my-1030-weekly-chart-shows-that-qqq-remains-in-a-long-term-up-trend-that-began-in-april-2023-and-the-gmi-6-of-6-and-green/) - [Blog Post: Day 2 of $QQQ short term up-trend; $QQQ back in daily RWB pattern, also $SPY and $DIA, see charts.](https://wishingwealthblog.com/2024/11/blog-post-day-2-of-qqq-short-term-up-trend-qqq-back-in-daily-rwb-pattern-also-spy-and-dia-see-charts/) - [Blog Post: Day 1 of $QQQ short term up-trend and my GMI flashed Green; Market took off with Trump's win; Crypto also took off, $IBIT had high volume IPO GLB to ATH, see daily and monthly charts](https://wishingwealthblog.com/2024/11/blog-post-day-1-of-qqq-short-term-up-trend-and-my-gmi-flashed-green-market-took-off-with-trumps-win-crypto-also-took-off-ibit-had-high-volume-ipo-glb-to-ath-see-daily-and-monthly-charts/) - QQQ was very oversold but instead of dropping it found support and took off. Both my short term indicator and GMI reversed up. My longer term indicators had never signaled a major decline, however. I just was on the sidelines until the election passed. There were an amazing 811 US stocks at 52 week highs - [Blog Post: Day 3 of $QQQ short term down-trend, could end on Wednesday; GMI rises to 3 (of 6); $ALAB has IPO GLB to ATH, see daily chart, also $PLTR](https://wishingwealthblog.com/2024/11/blog-post-day-3-of-qqq-short-term-down-trend-could-end-on-wednesday-gmi-rises-to-3-of-6-alab-has-ipo-glb-to-ath-see-daily-chart-also-pltr/) - My stock buddy, Judy, brought ALAB to my attention. It had an IPO, formed a green line top, and surpassed it on super high volume on Tuesday, after reporting earnings. Will it hold? Must not close below green line, at 95.21. By the way, so did PLTR. - [Blog Post: Day 2 of $QQQ short term down-trend; GMI flashes RED; $NFLX still holding recent earnings gap up and GLB, see daily chart](https://wishingwealthblog.com/2024/11/blog-post-day-2-of-qqq-short-term-down-trend-gmi-flashes-red-nflx-still-holding-recent-earnings-gap-up-and-glb-see-daily-chart/) - [Blog Post: Day 1 of $QQQ short term down-trend; GMI declines to 1 (of 6) and could flash Red on Monday; Markets appear very dangerous.](https://wishingwealthblog.com/2024/11/blog-post-day-1-of-qqq-short-term-down-trend-gmi-declines-to-1-of-6-and-could-flash-red-on-monday-markets-appear-very-dangerous/) - Next week we have an election and the Fed's decision on interest rates. My indictors weakened substantially last week. I am in cash and TBIL in my trading accounts. TBIL is an ETF that holds 1-3 month treasury bills. The pundits do not agree on the market's near term direction. As the saying goes, you - [Blog Post: Day 36 of $QQQ short term up-trend, it could end on Friday; Many recent failed GLBs: $NVDA, $AVGO, $SPOT, $AAPL, $HD, $IBM. Daily RWB pattern for $DIA over, see chart](https://wishingwealthblog.com/2024/10/blog-post-day-36-of-qqq-short-term-up-trend-it-could-end-on-friday-many-recent-failed-glbs-nvda-avgo-spot-aapl-hd-ibm-daily-rwb-pattern-for-dia-over-see-chart/) - [Blog Post: Day 34 of $QQQ short term up-trend; Why are gold, $GLD, and $IBIT in daily RWB up-trends? See daily charts. $IBIT is approaching a GLB and flag.](https://wishingwealthblog.com/2024/10/blog-post-day-34-of-qqq-short-term-up-trend-why-are-gold-gld-and-ibit-in-daily-rwb-up-trends-see-daily-charts-ibit-is-approaching-a-glb-and-flag/) - [Blog Post: Day 32 of $QQQ short term up-trend; GMI=5; Recent IPO $LOAR flying high, see weekly chart](https://wishingwealthblog.com/2024/10/blog-post-day-32-of-qqq-short-term-up-trend-gmi5-recent-ipo-loar-flying-high-see-weekly-chart/) - [Blog Post: Day 31 of $QQQ short term up-trend; $SFM continues to reach ATHs as it climbs its 8 EMA, see daily chart, earnings on 10/30, Comp=94 and RS=98](https://wishingwealthblog.com/2024/10/blog-post-day-31-of-qqq-short-term-up-trend-sfm-continues-to-reach-aths-as-it-climbs-its-8-ema-see-daily-chart-earnings-on-10-30-comp94-and-rs98/) - [Blog Post: Day 29 of $QQQ short term up-trend; $SPOT has GLB on above average volume, see daily and monthly charts](https://wishingwealthblog.com/2024/10/blog-post-day-29-of-qqq-short-term-up-trend-spot-has-glb-on-above-average-volume-see-daily-and-monthly-charts/) - [Blog Post: Day 28 of $QQQ short term up-trend; $NVDA has below average volume GLB, be careful, see daily chart](https://wishingwealthblog.com/2024/10/blog-post-day-28-of-qqq-short-term-up-trend-nvda-has-below-average-volume-glb-be-careful-see-daily-chart/) - [Blog Post: Day 27 of $QQQ short term up-trend; Earnings season is upon us; $AAPL is close to a GLB; This is another list of doublers near ATH with a weekly green bar; GMI= Green](https://wishingwealthblog.com/2024/10/blog-post-day-27-of-qqq-short-term-up-trend-earnings-season-is-upon-us-aapl-is-close-to-a-glb-this-is-another-list-of-doublers-near-ath-with-a-weekly-green-bar-gmi-green/) - AAPL's green line is at 237.23. - [Blog Post: Day 26 of $QQQ short term up-trend; This list shows 16 growth stocks that reached an ATH on Thursday and met my weekly green bar scan, described on blog](https://wishingwealthblog.com/2024/10/blog-post-day-26-of-qqq-short-term-up-trend-this-list-shows-16-growth-stocks-that-reached-an-ath-on-thursday-and-met-my-weekly-green-bar-scan-described-on-blog/) - All bounced up off of their rising 4 wk averages and had a RS (SPY) at a 2o week high. If I bought any of these I would place my stop loss just below this week's low. - [Blog Post: Day 23 of $QQQ short term up-trend; $NVDA is just below its last green line top; I will wait to see if it has a GLB to an ATH, see daily and monthly charts; see how prior GLBs have worked](https://wishingwealthblog.com/2024/10/blog-post-day-23-of-qqq-short-term-up-trend-nvda-is-just-below-its-last-green-line-top-i-will-wait-to-see-if-it-has-a-glb-to-an-ath-see-daily-and-monthly-charts-see-how-prior-glbs-have-worked/) - [Blog Post: Day 22 of $QQQ short term up-trend; GMI is back to 6 (of 6); Here are 22 stocks on my watchlist of recent GR250 stocks that reached an ATH on Friday and that are at least 2x their price 250 days ago; CAVA leads the group, 4x price a year ago; See blog for list of selected stocks who had a successful GLB](https://wishingwealthblog.com/2024/10/blog-post-day-22-of-qqq-short-term-up-trend-gmi-is-back-to-6-of-6-here-are-22-stocks-on-my-watchlist-of-recent-gr250-stocks-that-reached-an-ath-on-friday-and-that-are-at-least-2x-their-price-25/) - The GMI remains on a green signal. - [Blog Post: Day 21 of $QQQ short term up-trend; $NFLX continues to rise to ATH after GLB, reports on 10/17, see daily chart](https://wishingwealthblog.com/2024/10/blog-post-day-21-of-qqq-short-term-up-trend-nflx-continues-to-rise-to-ath-after-glb-reports-on-10-17-see-daily-chart/) - [Blog Post: Day 20 of $QQQ short term up-trend; However, my 10:30 weekly chart shows that $QQQ has been in a longer term up-trend with the 10 week average above the rising 30 week average, since April, 2023.](https://wishingwealthblog.com/2024/10/blog-post-day-20-of-qqq-short-term-up-trend-however-my-1030-weekly-chart-shows-that-qqq-has-been-in-a-longer-term-up-trend-with-the-10-week-average-above-the-rising-30-week-average-since-april/) - [Blog Post: Day 19 of $QQQ short term up-trend; Here is a list of 17 doublers that reached an ATH on Tuesday; there are many leaders to research](https://wishingwealthblog.com/2024/10/blog-post-day-19-of-qqq-short-term-up-trend-here-is-a-list-of-17-doublers-that-reached-an-ath-on-tuesday-there-are-many-leaders-to-research/) - Therese are sorted by % gain from their 250 day low. - [Blog Post: Day 17 of $QQQ short term up-trend; $QQQ retook its rising 4 week average, it is looking strong to me.](https://wishingwealthblog.com/2024/10/blog-post-day-17-of-qqq-short-term-up-trend-qqq-retook-its-rising-4-week-average-it-is-looking-strong-to-me/) - The weekly set-up is strong after last week's strong close. The 4wk>10wk>30wk and QQQ closed back above its 4 wk average. And the GMI is at 5 (of 6) and still Green, see table below. The weekly 10.4 Stochastic is now=80.5, evidence of a strong up-trend. - [Blog Post: Day 16 of $QQQ short term up-trend; $IBM and $VERX successfully hold green line after recent GLB to ATH, see daily charts](https://wishingwealthblog.com/2024/10/blog-post-day-16-of-qqq-short-term-up-trend-ibm-and-verx-successfully-hold-green-line-after-recent-glb-to-ath-see-daily-charts/) - [Blog Post: Day 14 of the $QQQ short term up-trend; $QQQ is still in a daily RWB up-trend, and $GLD is no longer extended, see charts](https://wishingwealthblog.com/2024/10/blog-post-day-14-of-the-qqq-short-term-up-trend-qqq-is-still-in-a-daily-rwb-up-trend-and-gld-is-no-longer-extended-see-charts/) - Guppy chart shows that QQQ is still in a daily RWB up-trend and its weekly chart shows that GLD kissed the 4 wk avg, as I had opined. Having bounced up off of its 4wk avg, GLD is no longer extended and may be a weekly green bar signal. Note all of the prior weekly - [Blog Post: Day 12 of $QQQ short term up-trend; $AGX had GLB 4 weeks ago and a weekly green bar setup last week; it must hold last week's low](https://wishingwealthblog.com/2024/09/blog-post-day-12-of-qqq-short-term-up-trend-agx-had-glb-4-weeks-ago-and-a-weekly-green-bar-setup-last-week-it-must-hold-last-weeks-low/) - I teach my students that if they miss buying at the time of a GLB, a possible place to buy is when the stock subsequently has a weekly green bar setup. This means that the 4wk>10wk>30 wk and the 4 wk is rising and it had a 20 week high in RS (SPY). The stop - [Blog Post: Day 11 of $QQQ short term up-trend; My stock buddy, Judy, taught me that when the weekly price bar is floating above its rising 4 wk average it can be a sign of being extended, see examples in this chart of $GLD](https://wishingwealthblog.com/2024/09/blog-post-day-11-of-qqq-short-term-up-trend-my-stock-buddy-judy-taught-me-that-when-the-weekly-price-bar-is-floating-above-its-rising-4-wk-average-it-can-be-a-sign-of-being-extended-see-examples/) - Note the floating bars in the circles. Is GLD extended now? Time will tell. I do not initiate purchases when a rising stock shows this pattern. Stocks often return to the 4 wk average and kiss it or form a top after the week of the float. - [Blog Post: Day 9 of $QQQ short term up-trend; $NFLX closes at ATH after GLB; see daily and monthly charts; I tweeted this break-out intraday @wishingwealth](https://wishingwealthblog.com/2024/09/blog-post-day-9-of-qqq-short-term-up-trend-nflx-closes-at-ath-after-glb-see-daily-and-monthly-charts-i-tweeted-this-break-out-intraday-wishingwealth/) - Follow my tweets during the day and see what I am seeing. NFLX closed above its green line top on volume a little above its 50 day average volume. It closed near its day's high. - [Blog Post: Day 8 of $QQQ short term up-trend; $QQQ is now back in a daily RWB up-trend, joining $GLD](https://wishingwealthblog.com/2024/09/blog-post-day-8-of-qqq-short-term-up-trend-qqq-is-now-back-in-a-daily-rwb-up-trend-joining-gld/) - [Blog Post: Day 7 of $QQQ short term up-trend; 209 US new highs, 10 lows and 66 at ATH; The GMI=6 (of 6); My weekly green bar scan yielded 18 candidates; see list and example charts.](https://wishingwealthblog.com/2024/09/blog-post-day-7-of-qqq-short-term-up-trend-209-us-new-highs-10-lows-and-66-at-ath-the-gmi6-of-6-my-weekly-green-bar-scan-yielded-18-candidates-see-list-and-example-charts/) - My class is now learning how to use the setups I use. One of those setups is a weekly green bar setup. On a weekly chart, the bar is painted green if the stock has the 4w avg>10wkavg>30wkavg and the 4 wk avg this wk is greater than the 4 wk avg last week. The - [Blog Post; Day 6 of $QQQ short term up-trend; 14 growth stocks at ATH on Thursday that are at least 2.5x their 250 day lows; GMI=6](https://wishingwealthblog.com/2024/09/blog-post-day-6-of-qqq-short-term-up-trend-14-growth-stocks-at-ath-on-thursday-that-are-at-least-2-5x-their-250-day-lows-gmi6/) - These are worth checking out. They are ranked by c/minl250. FTAI is 4x its 250 day low price. - [Blog Post: Day 4 of $QQQ short term up-trend; $WAB has has high volume GLB on Tuesday, has Comp=98 and RS=88](https://wishingwealthblog.com/2024/09/blog-post-day-4-of-qqq-short-term-up-trend-wab-has-has-high-volume-glb-on-tuesday-has-comp98-and-rs88/) - [Blog Post: Day 2 of $QQQ short term uptrend and GMI flashes GREEN; $QQQ back in Stage 2, above 10 and 30 week averages; see list of 27 stocks that reached an ATH on Friday, 2 had GLB on Friday, see daily charts](https://wishingwealthblog.com/2024/09/blog-post-day-2-of-qqq-short-term-uptrend-and-gmi-flashes-green-qqq-back-in-stage-2-above-10-and-30-week-averages-see-list-of-27-stocks-that-reached-an-ath-on-friday-2-had-glb-on-friday-see-da/) - My 10:30 weekly chart shows that QQQ has regained strength and is riding above its 10 and 30 week averages. - [Blog Post: Day 1 of new $QQQ short term up-trend; GMI rises to 5 and will likely turn Green at Friday's close](https://wishingwealthblog.com/2024/09/blog-post-day-1-of-new-qqq-short-term-up-trend-gmi-rises-to-5-and-will-likely-turn-green-at-fridays-close/) - [Blog Post: Day 6 of $QQQ short term down-trend, it could end Thursday; Out of $SQQQ. $QQQ had a high volume rise and blue dot over sold bounce.](https://wishingwealthblog.com/2024/09/blog-post-day-6-of-qqq-short-term-down-trend-it-could-end-thursday-out-of-sqqq-qqq-had-a-high-volume-rise-and-blue-dot-over-sold-bounce/) - Time to be out of SQQQ and to nibble at TQQQ. QQQ short term trend could turn up by Thursday's close. I have to be nimble to catch the changing trend. Note the accumulation day on Wednesday. Only 38% of my new class of 130 students thought QQQ would rise this week. Learning what a - [Blog Post: Day 3 of $QQQ short term down-trend; GMI declines to 0 (out of 6), will flash RED at Monday's close; I do not fight the tide, time to be in cash and/or $SQQQ in my trading account; $WBA in long Stage 4 decline](https://wishingwealthblog.com/2024/09/blog-post-day-3-of-qqq-short-term-down-trend-gmi-declines-to-0-out-of-6-will-flash-red-at-mondays-close-i-do-not-fight-the-tide-time-to-be-in-cash-and-or-sqqq-in-my-trading-account-wba-in/) - I cannot remember a time when the GMI declined so quickly. When it turns RED at Monday's close, both of my short and longer term indicators for QQQ will be indicating a decline. While QQQ is now below its 10 week, 30 day and 30 week averages, it is still in a Weinstein Stage 2 - [Blog Post: Day 2 of $QQQ short term down-trend; Daily adapted Guppy chart looking ominous](https://wishingwealthblog.com/2024/09/blog-post-day-2-of-qqq-short-term-down-trend-daily-adapted-guppy-chart-looking-ominous/) - [Blog Post: Day1 of $QQQ short term down-trend; In cash or $SQQQ in short term trading accounts, post earnings release down-trend](https://wishingwealthblog.com/2024/09/blog-post-day1-of-qqq-short-term-down-trend-in-cash-or-sqqq-in-short-term-trading-accounts-post-earnings-release-down-trend/) - I suspect we are in the post earnings release down-trend period. About 40% of QQQ short term down-trends have lasted 5 days or less. - [Blog Post: Day 12 of $QQQ short term up-trend, could end on Wednesday; longer term up-trend still intact with GMI=6](https://wishingwealthblog.com/2024/09/blog-post-day-12-of-qqq-short-term-up-trend-could-end-on-wednesday-longer-term-up-trend-still-intact-with-gmi6/) - QQQ closed back below all 12 averages. RWB up-trend over. Time to be very defensive. - [Blog Post: Day 11 of $QQQ short term up-trend; On Friday, there were 217 US stocks at new highs and 7 at new lows, 93 were at an ATH; Modified Guppy daily and weekly charts show that $QQQ has closed above all 12 averages.](https://wishingwealthblog.com/2024/09/blog-post-day-11-of-qqq-short-term-up-trend-on-friday-there-were-217-us-stocks-at-new-highs-and-7-at-new-lows-93-were-at-an-ath-modified-guppy-daily-and-weekly-charts-show-that-qqq-has-closed/) - 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 - [Blog Post: Day 10 of $QQQ short term up-trend but very weak and is still in a RWB daily up-trend, see chart; How did anyone get caught in $FMCI? $INTC? See adapted daily guppy charts. A picture is worth 1,000 words.](https://wishingwealthblog.com/2024/08/blog-post-day-10-of-qqq-short-term-up-trend-but-very-weak-and-is-still-in-a-rwb-daily-up-trend-see-chart-how-did-anyone-get-caught-in-fmci-intc-see-adapted-daily-guppy-charts-a-picture-is-wor/) - [Day 8 of $QQQ short term up-trend; My 10:30 weekly chart shows $QQQ in continuing Stage 2 up-trend, as is $NVDA.](https://wishingwealthblog.com/2024/08/day-8-of-qqq-short-term-up-trend-my-1030-weekly-chart-shows-qqq-in-continuing-stage-2-up-trend-as-is-nvda/) - Dotted line = 10 week average. Gray line = weekly close. Red line= 30 week average. - [Blog Post: Day 6 of $QQQ short term up-trend; 306 US new highs on Friday, 3 lows and 99 at ATH; $QQQ now in daily RWB up-trend, see adapted daily Guppy chart, and Weinstein Stage 2 up-trend](https://wishingwealthblog.com/2024/08/blog-post-day-6-of-qqq-short-term-up-trend-306-us-new-highs-on-friday-3-lows-and-99-at-ath-qqq-now-in-daily-rwb-up-trend-see-adapted-daily-guppy-chart-and-weinstein-stage-2-up-trend/) - 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. - [Blog Post: Day 1 of new $QQQ short term up-trend, GMI will likely flash GREEN Monday! $QQQ and $SPY have closed back above their 10 week averages. I will slowly accumulate $TQQQ. See my adapted daily Guppy chart of $QQQ. Back in a week.](https://wishingwealthblog.com/2024/08/blog-post-day-1-of-new-qqq-short-term-up-trend-gmi-will-likely-flash-green-monday-qqq-and-spy-have-closed-back-above-their-10-week-averages-i-will-slowly-accumulate-tqqq-see-my-adapted-daily/) - 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 - [Blog Post: Day 20 of $QQQ short term down-trend, it may end Friday! If there is a new short term up-trend and it lasts, this time I will accumulate $TQQQ. If interest rates decline it will cause a stampede back into stocks by persons who have been hibernating in high interest savings accounts and treasuries. There may not be a chance to get in at lower levels. My blog: https://www.wishingwealthblog.com/](https://wishingwealthblog.com/2024/08/blog-post-day-20-of-qqq-short-term-down-trend-it-may-end-friday-if-there-is-a-new-short-term-up-trend-and-it-lasts-this-time-i-will-accumulate-tqqq-if-interest-rates-decline-it-will-cause-a/) - Note that the MACD histogram has turned blue (positive). - [Blog Post: Day 18 of $QQQ short term down-trend; $QQQ still in a BWR daily down-trend, see chart.](https://wishingwealthblog.com/2024/08/blog-post-day-18-of-qqq-short-term-down-trend-qqq-still-in-a-bwr-daily-down-trend-see-chart/) - QQQ still closed (dotted line) below all blue averages. The next few days should tell us whether an up-trend materializes or the decline resumes. - [Blog Post: Day16 of $QQQ short term down-trend; Stop trying to predict in advance a decline or bottom and wait for it to happen; $QQQ and $SPY are in daily BWR down trends, see daily Guppy charts of QQQ,SPY,MAGS and NVDA below.](https://wishingwealthblog.com/2024/08/blog-post-day16-of-qqq-short-term-down-trend-stop-trying-to-predict-in-advance-a-decline-or-bottom-and-wait-for-it-to-happen-qqq-and-spy-are-in-daily-bwr-down-trends-see-daily-guppy-charts-of/) - The GMI is RED and it makes sense to me to be in cash in my trading accounts. Vacation time! Plenty of time to get in once there is an up-trend and a daily RWB pattern. One loses a lot of $$$ trying to catch the bottom. NO ONE KNOWS WHERE OR WHEN IT WILL - [Blog Post: Day 13 of $QQQ short term down-trend; I found only 5 stocks on my growth watchlist of 300+ stocks that had perfect daily and weekly RWB patterns. The list below is worth investigating.](https://wishingwealthblog.com/2024/08/blog-post-day-13-of-qqq-short-term-down-trend-i-found-only-5-stocks-on-my-growth-watchlist-of-300-stocks-that-had-perfect-daily-and-weekly-rwb-patterns-the-list-below-is-worth-investigating/) - These stocks also had a recent GLB to an ATH and are up at least 50% in the past year. When the market falters, it is easier to see the potential leaders. - [Blog Post: GMI= 0 and flashes RED; On sidelines in cash in my trading accounts; I will not fight the outgoing tide; QQQ now has a daily BWR pattern, see chart](https://wishingwealthblog.com/2024/08/blog-post-gmi-0-and-flashes-red-on-sidelines-in-cash-in-my-trading-accounts-i-will-not-fight-the-outgoing-tide-qqq-now-has-a-daily-bwr-pattern-see-chart/) - [Blog Post: Day 11 of $QQQ short term down-trend; GMI=2 and could turn RED on Monday; my 10:30 weekly chart of $QQQ below tells the story](https://wishingwealthblog.com/2024/08/blog-post-day-11-of-qqq-short-term-down-trend-gmi2-and-could-turn-red-on-monday-my-1030-weekly-chart-of-qqq-below-tells-the-story/) - The 10:30 weekly chart shows that QQQ is now sitting on its rising 30 week average (solid red line). This is still a Stage 2 up-trend. The gray line shows the weekly closes. The longer term up-trend remains intact until the 10 week average (dotted line) crosses below the 30 week average. However, the first - [Blog Post: Day 10 of $QQQ short term down-trend; Small caps get hit too, see daily chart of $IWM; They kill the leaders first, then the troops, it's not simply rotation in a continuing bull market](https://wishingwealthblog.com/2024/08/blog-post-day-10-of-qqq-short-term-down-trend-small-caps-get-hit-too-see-daily-chart-of-iwm-they-kill-the-leaders-first-then-the-troops-its-not-simply-rotation-in-a-continuing-bull-market/) - [Blog Post: Day 8 of $QQQ short term down-trend; RWB up-trend pattern for $GLD still holding, see daily adapted GUPPY chart](https://wishingwealthblog.com/2024/07/blog-post-day-8-of-qqq-short-term-down-trend-rwb-up-trend-pattern-for-gld-still-holding-see-daily-adapted-guppy-chart/) - [Blog Post: Day 6 of $QQQ short term down-trend; GMI=4 and GREEN, see table; $QQQ is now below its 10 week average; Is QQQ heading towards a daily BWR down-trend?](https://wishingwealthblog.com/2024/07/blog-post-day-6-of-qqq-short-term-down-trend-gmi4-and-green-see-table-qqq-is-now-below-its-10-week-average-is-qqq-heading-towards-a-daily-bwr-down-trend/) - My adapted Guppy chart shows that a BWR down-trend pattern may be forming. Until QQQ closes (shown by dotted line) above all 12 of the red/blue averages, I will not go long TQQQ, or buy any Nasdaq 100 stocks. Look at the turnaround pattern that occurred last May. The key to success is to not - [Blog Post: Day 5 of $QQQ short term down-trend; BUT 329 US stocks at new highs, 28 lows and 67 at ATH; NONE of the stocks at ATH come from Nasdaq100 stocks--funds have rotated out of the prior leading tech stocks in QQQ!!!!](https://wishingwealthblog.com/2024/07/blog-post-day-5-of-qqq-short-term-down-trend-but-329-us-stocks-at-new-highs-28-lows-and-67-at-ath-none-of-the-stocks-at-ath-come-from-nasdaq100-stocks-funds-have-rotated-out-of-the-prior-leading/) - I usually focus on the QQQ to gauge the market because tech stocks are often among the growth leaders. I have never seen before a collapse in QQQ while the number of US stocks hitting new highs or all-time highs (ATH) was climbing. Note that T2108, which tracks NYSE stocks above their 40 day average - [Blog Post: Day 4 of $QQQ short term down-trend; Stocks always fall faster than they rose; Daily RWB up-trend is over. Time to be out and cash is king right now.](https://wishingwealthblog.com/2024/07/blog-post-day-4-of-qqq-short-term-down-trend-stocks-always-fall-faster-than-they-rose-daily-rwb-up-trend-is-over-time-to-be-out-and-cash-is-king-right-now/) - I posted on 7/19 that my QQQ short term trend indicator had started a new down-trend. I went to cash then and am waiting for my indictor to signal a new up-trend to buy TQQQ. The daily RWB up-trend pattern has ended. You may access my blog at www.wishingwealthblog.com - [Blog Post: Day 2 $QQQ short term down-trend but 75% of Nasdaq 100 stocks rose and $QQQ is very oversold and had a black dot](https://wishingwealthblog.com/2024/07/blog-post-day-2-qqq-short-term-down-trend-but-75-of-nasdaq-100-stocks-rose-and-qqq-is-very-oversold-and-had-a-black-dot/) - Screenshot - [Blog Post: Day 1 of new $QQQ short term down-trend, see daily chart and the GMI table](https://wishingwealthblog.com/2024/07/blog-post-day-1-of-new-qqq-short-term-down-trend-see-daily-chart-and-the-gmi-table/) - Roughly 40% of new short term down-trends end in 5 days or less. Once it passes 5 days I become more confident of the change in trend. Note the higher volume recently on the down days. My GMI is still on a Green signal. So I wait on the sidelines in my trading accounts and - [Blog Post: Day 51 of $QQQ short term up-trend, up-trend may end Friday; Minervini's terrific book in tweet is a system error; $QQQ daily RWB up-trend pattern may also be ending, see chart](https://wishingwealthblog.com/2024/07/blog-post-day-51-of-qqq-short-term-up-trend-up-trend-may-end-friday-minervinis-terrific-book-in-tweet-is-a-system-error-qqq-daily-rwb-up-trend-pattern-may-also-be-ending-see-chart/) - [Blog Post: Day 50 of $QQQ short term up-trend, this up-trend may end soon; The blue arrows in this daily chart show the two recent distribution days suggesting a possible larger decline](https://wishingwealthblog.com/2024/07/blog-post-day-50-of-qqq-short-term-up-trend-this-up-trend-may-end-soon-the-blue-arrows-in-this-daily-chart-show-the-two-recent-distribution-days-suggesting-a-possible-larger-decline/) - I posted after the first distribution day (first arrow) that the subsequent reaction rise needed to exceed the high of that down day. It did not. There were 3 lower volume up days. Now we have a decline on larger volume. I am in cash and TBIL in my trading account. If we get a - [Blog Post: Day 49 of $QQQ short term up-trend; 568 US new highs and 6 lows, 204 at ATH; $KEX has GLB, see daily and monthly charts](https://wishingwealthblog.com/2024/07/blog-post-day-49-of-qqq-short-term-up-trend-568-us-new-highs-and-6-lows-204-at-ath-kex-has-glb-see-daily-and-monthly-charts/) - KEX broke its ATH from 9/2014 today on high volume. I tweeted it out intraday @wishingwealth. - [Blog Post: Day 48 of $QQQ short term up-trend; $IWM back in daily RWB up-trend, see chart](https://wishingwealthblog.com/2024/07/blog-post-day-48-of-qqq-short-term-up-trend-iwm-back-in-daily-rwb-up-trend-see-chart/) - [Blog Post: Day 47 of $QQQ short term up-trend; 309 US new highs and 2 lows! But tech is lagging. T2108 spikes to 61%](https://wishingwealthblog.com/2024/07/blog-post-day-47-of-qqq-short-term-up-trend-309-us-new-highs-and-2-lows-but-tech-is-lagging-t2108-spikes-to-61/) - I am waiting to see if QQQ and tech stocks can make up for the high volume distribution day last Thursday, designated by arrows. QQQ looks extended to me on a weekly chart. But the GMI remains Green and strong. I may buy TQQQ in my trading account on a good bounce up off of - [Blog Post: Day 45 of $QQQ short term up-trend, but after 7 consecutive days up, see daily chart, and Investors Intelligence poll above 60% bullish, be careful and have sell stops in place.](https://wishingwealthblog.com/2024/07/bog-post-day-45-of-qqq-short-term-up-trend-but-after-7-consecutive-days-up-see-daily-chart-and-investors-intelligence-poll-above-60-bullish-be-careful-and-have-sell-stops-in-place/) - [Blog Post: Day 42 of $QQQ short term up-trend; GMI=5 (of 6) and Green](https://wishingwealthblog.com/2024/07/blog-post-day-42-of-qqq-short-term-up-trend-gmi5-of-6-and-green/) - [Blog Post; Day 41 of $QQQ short term up-trend; $QQQ barrels ahead with a daily RWB pattern, see chart](https://wishingwealthblog.com/2024/07/blog-post-day-41-of-qqq-short-term-up-trend-qqq-barrels-ahead-with-a-daily-rwb-pattern-see-chart/) - As long as the 6 shorter term averages (red) are rising above the 6 longer term averages (blue) so there is a white space between them, it is a strong RWB up-trend. I follow the market's trend. Note when I called Day 1 of the short term up-trend. - [Blog Post: Day 38 of $QQQ short term up-trend; Weekly 10:30 charts show $QQQ and $SPY in a solid up-trends](https://wishingwealthblog.com/2024/06/blog-post-day-38-of-qqq-short-term-up-trend-weekly-1030-charts-show-qqq-and-spy-in-a-solid-up-trends/) - So many pundits claim that the markets are due for a decline. Instead of predicting Mr. Market, we would do better to just react to what he is doing. These 10:30 weekly charts look strong to me. The gray line is the weekly close and the dotted line is the 10 week moving average. The - [Blog Post: Day 36 of $QQQ short term up-trend; 52 US new highs and 71 new lows; $AMZN has high volume GLB, see daily and weekly charts](https://wishingwealthblog.com/2024/06/blog-post-day-36-of-qqq-short-term-up-trend-52-us-new-highs-and-71-new-lows-amzn-has-high-volume-glb-see-daily-and-weekly-charts/) - [Blog Post: Day 34 of $QQQ short term up-trend; Nasdaq100 stocks faltering; but $VITL had an IPO GLB on Monday, see daily and monthly charts and let's see if it holds](https://wishingwealthblog.com/2024/06/blog-post-day-34-of-qqq-short-term-up-trend-nasdaq100-stocks-faltering-but-vitl-had-an-ipo-glb-on-monday-see-daily-and-monthly-charts-and-lets-see-if-it-holds/) - You saw the recent GLB for ARM failed. In a weak market even the best set-ups often fail. That is why one always needs to have strict rules for minimizing losses. For example, if a GLB stock closes back below its green line I sell immediately. VITL has good IBD fundamentals (Comp=99), but can it - [Blog Post: Day 33 of $QQQ short term up-trend; GMI= 4 (of 6) and still Green but not enough stocks at new highs](https://wishingwealthblog.com/2024/06/blog-post-day-33-of-qqq-short-term-up-trend-gmi-4-of-6-and-still-green-but-not-enough-stocks-at-new-highs/) - With many high flyers being extended and reversing last week (CMG, MU, NVDA) it may be time to sit on the sidelines until 2nd quarter earnings come out in July. - [Blog Post: Day 31 of $QQQ short term up-trend; as I tweeted intraday Tuesday, $ARM retakes green line on above average volume, see daily and weekly charts](https://wishingwealthblog.com/2024/06/blog-post-day-31-of-qqq-short-term-up-trend-as-i-tweeted-intraday-tuesday-arm-retakes-green-line-on-above-average-volume-see-daily-and-weekly-charts/) - ARM must not close below 164. - [Blog Post: Day 29 of $QQQ short term up-trend; Introducing the x8/x21/30 day set-up, examples=$COST, $ANF, $NVDA, $CVLT](https://wishingwealthblog.com/2024/06/blog-post-day-29-of-qqq-short-term-up-trend-introducing-the-x8-x21-30-day-set-up-examplescost-anf-nvda-cvlt/) - I have noticed that stocks that are advancing have the following pattern: x8 day average>x21 day average >30 day average. I learned about the significance of the 8 day exponential average from Pat Walker, who presented to my class and did this wonderful interview with my former student, Richard Moglen. The CAN SLIM team at - [Blog Post: Day 30 of $QQQ short term up-trend; Here are 16 stocks that came up on the x8/x21/30 day set-up scan I described yesterday.](https://wishingwealthblog.com/2024/06/blog-post-day-30-of-qqq-short-term-up-trend-here-are-16-stocks-that-came-up-on-the-x8-x21-30-day-set-up-scan-i-described-yesterday/) - These are sorted by % change on Monday. Study their charts and their fundamentals. If I bought nay I would place my sell stop below Monday's low. - [Blog Post: Day 27 of $QQQ short term up-trend; GMI back to 6; $MU at ATH again after building a base after its GLB in March](https://wishingwealthblog.com/2024/06/blog-post-day-27-of-qqq-short-term-up-trend-gmi-back-to-6-mu-at-ath-again-after-building-a-base-after-its-glb-in-march/) - MU reports on June 26, estimates look great. - [Blog Post: Day 26 of $QQQ short term up-trend; Tweeted intraday, @wishingwealth, when $AAPL had a GLB](https://wishingwealthblog.com/2024/06/blog-post-day-26-of-qqq-short-term-up-trend-tweeted-intraday-wishingwealth-when-aapl-had-a-glb/) - Sign up for my tweets, @wishingwealth, so you receive my intraday signals. AAPL must hold its green line. Note the volume on today's GLB, green line break-out to ATH. - [Blog Post: Day 25 of $QQQ short term up-trend; 75 US new highs and 69 lows; Weekly chart shows $AAPL hitting resistance at the same place for the third time, waiting for the GLB](https://wishingwealthblog.com/2024/06/blog-post-day-25-of-qqq-short-term-up-trend-75-us-new-highs-and-69-lows-weekly-chart-shows-aapl-hitting-resistance-at-the-same-place-for-the-third-time-waiting-for-the-glb/) - A close above the green line would be a GLB and a possible place to get on board. - [Blog Post: Day 24 of $QQQ short term up-trend; GMI=4 with 2 of the new high components negative--what does it mean? Better to have traded my TQQQ strategy, yet again!](https://wishingwealthblog.com/2024/06/blog-post-day-24-of-qqq-short-term-up-trend-gmi4-with-2-of-the-new-high-components-negative-what-does-it-mean-better-to-have-traded-my-tqqq-strategy-yet-again/) - While the other 4 components of the GMI remain positive, I am concerned that the 10 Day Successful New High and Number of New High components are negative. For someone who likes to trade stocks at new highs it is worrisome to me that prior new highs are not doing well and there are fewer - [Blog Post: Day 23 of $QQQ short term up-trend; $GLD had a blue dot signal on Thursday and seems to be rising, see daily chart](https://wishingwealthblog.com/2024/06/blog-post-day-23-of-qqq-short-term-up-trend-gld-had-a-blue-dot-signal-on-thursday-and-seems-to-be-rising-see-daily-chart/) - Arrows show the 2 recent blue dot signals. If interest rates decline so will the value of the dollar and it will therefore take more dollars to buy an ounce of gold. I have a position. - [Blog Post: Day 22 of $QQQ short term up-trend; Markets remain in short and longer term up-trends; Here are 7 stocks hitting an ATH on Wednesday on volume at least 50% above normal](https://wishingwealthblog.com/2024/06/blog-post-day-22-of-qqq-short-term-up-trend-markets-remain-in-short-and-longer-term-up-trends-here-are-7-stocks-hitting-an-ath-on-wednesday-on-volume-at-least-50-above-normal/) - All of these stocks hit an ATH on Wednesday but not on Tuesday. Last column shows volume Wed divided by average volume the past 50 days. Check them out. - [Blog Post: Day 20 of $QQQ short term up-trend; $DIA is finding support at 30 week average, solid red line, see weekly chart](https://wishingwealthblog.com/2024/06/blog-post-day-20-of-qqq-short-term-up-trend-dia-is-finding-support-at-30-week-average-solid-red-line-see-weekly-chart/) - As long as DIA is above its rising 30 week average, it remains in a Weinstein Stage 2 up-trend. Stay tuned..... - [Blog Post: GMI remains at 6 (of 6) and 19th day of $QQQ short term up-trend; $QQQ and $SPY had weekly green bars last week, must hold 4 wk avg this week, see weekly charts.](https://wishingwealthblog.com/2024/06/blog-post-gmi-remains-at-6-of-6-and-19th-day-of-qqq-short-term-up-trend-qqq-and-spy-had-weekly-green-bars-last-week-must-hold-4-wk-avg-this-week-see-weekly-charts/) - [Blog Post: Day 18 of $QQQ short term up-trend; 3 growth stocks passed my weekly green bar scan: $PRIM, $CRS and $LPG, which also had a GLB, see daily and weekly charts](https://wishingwealthblog.com/2024/05/blog-post-day-18-of-qqq-short-term-up-trend-3-growth-stocks-passed-my-weekly-green-bar-scan-prim-crs-and-lpg-which-also-had-a-glb-see-daily-and-weekly-charts/) - [Blog Post: Day 15 of $QQQ short term up-trend; $ANF is an example of how I analyze a stock's trend using my weekly green bar indicator.](https://wishingwealthblog.com/2024/05/blog-post-day-15-of-qqq-short-term-up-trend-anf-is-an-example-of-how-i-analyze-a-stocks-trend-using-my-weekly-green-bar-indicator/) - I have had increasing success buying stocks that come up in my weekly green bar scan. Why weekly? Because the daily chart has so many ups and downs each day that it shakes me out of a good up-trending stock. Ever happen to you? It is noteworthy that almost all of WON's charts in his - [Blog Post: Day 14 of $QQQ short term up-trend; $QQQ remains in a daily (and weekly) RWB up-trend, see daily chart; also $ANF, $BJ and $VST reached ATHs on Thursday, check them out](https://wishingwealthblog.com/2024/05/blog-post-day-14-of-qqq-short-term-up-trend-qqq-remains-in-a-daily-and-weekly-rwb-up-trend-see-daily-chart-also-anf-bj-and-vst-reached-aths-on-thursday-check-them-out/) - [Blog Post: Day 13 of $QQQ short term up-trend; 6 stocks in beautiful up-trends near ATHs, with weekly green bars, check them out.](https://wishingwealthblog.com/2024/05/blog-post-day-13-of-qqq-short-term-up-trend-6-stocks-in-beautiful-up-trends-near-aths-with-weekly-green-bars-check-them-out/) - Screenshot - [Blog Post: Day 11 of $QQQ short term up-trend; $QCOM is holding its recent GLB at all-time highs, it must hold 193.58, see daily and weekly charts](https://wishingwealthblog.com/2024/05/blog-post-day-11-of-qqq-short-term-up-trend-qcom-is-holding-its-recent-glb-at-all-time-highs-it-must-hold-193-58-see-daily-and-weekly-charts/) - [Blog Post: Day 10 of $QQQ short term up-trend; $GLD is on the rise again, see weekly chart and list of 5 other strong growth stocks to check out](https://wishingwealthblog.com/2024/05/blog-post-day-10-of-qqq-short-term-up-trend-gld-is-on-the-rise-again-see-weekly-chart-and-list-of-5-other-strong-growth-stocks-to-check-out/) - Note the weekly green bar signal and recent GLB. Five other strong growth stocks with a weekly green bar are: $PRIM, $TTEK, $SCCO, $VIST, and $JXN. - [Blog Post: Day 9 0f $QQQ short term up-trend; $HG having interesting IPO break-out, see weekly chart, and weekly adapted GMMA charts of $QQQ and $NVDA](https://wishingwealthblog.com/2024/05/blog-post-day-9-0f-qqq-short-term-up-trend-hg-having-interesting-ipo-break-out-see-weekly-chart-and-weekly-adapted-gmma-charts-of-qqq-and-nvda/) - HG is expected to have earnings up+51% in 2024. First quarter earrings were up +194%. MS Comp rating=96. Check it out. FYI, QQQ has been in a weekly RWB up-trend since May 2023. It did not fail last October. The weekly adapted GMMA chart can show you the true trend of indexes and stocks. In - [Blog Post: I'M back! Day 8 of $QQQ short term up-trend; GMI=Green but I do not know the day it changed; Don't listen to the pundits who opine the market is going to crash; no expert, only the market's movement will tell us if a decline is likely and it has helped me to avoid all big sell-offs since 2000; follow stocks trading at all-time highs; here is a list of 9 to research](https://wishingwealthblog.com/2024/05/blog-post-im-back-8-the-day-of-qqq-short-term-up-trend-gmigreen-but-i-do-not-know-the-day-it-changed-dontt-listen-to-the-pundits-who-opine-the-market-is-going-to-crash-no-expert-but-the/) - All are up at least 50% from a year ago and have been launched. - [In the hospital. Will resume posting next week. Thank you for your patience.](https://wishingwealthblog.com/2024/05/in-the-hospital-will-resume-posting-next-week-thank-you-for-your-patience/) - [Blog Post: Day 18 of $QQQ short term down-trend; Stocks follow the long bonds; when bonds fall, interest rates are rising and it sucks $$ out of the market; when bonds bottom, rates decline and the market bottoms as investors flee low fixed income for higher yielding securities , see chart](https://wishingwealthblog.com/2024/04/blog-post-day-18-of-qqq-short-term-down-trend-stocks-follow-the-long-bonds-when-bonds-fall-interest-rates-are-rising-and-it-sucks-out-of-the-market-when-bonds-bottom-rates-decline-and-the-m/) - Note the low of the market (SP-500) and 20+ year treasury bonds (TLT) occurred simultaneously last November. Then bonds rose and went sideways as pundits expected the Fed to lower rates. Now bonds are back in a BWR down-trend and the market is weakening. Cash is king! The next advance will be under way when - [Blog Post: Day 16 of $QQQ short term down-trend; $GS and $CRS have GLBs and are worth monitoring, see daily charts,](https://wishingwealthblog.com/2024/04/blog-post-day-16-of-qqq-short-term-down-trend-gs-and-crs-have-glbs-and-are-worth-monitoring-see-daily-charts/) - While the GMI is still Red, see table below, a few stocks are breaking out to ATHs, see GS and CRS. CRS reports earnings on 5/1. Neither should close back below their green lines. With the GMI on a Red signal, I am on the sidelines in my trading account. - [Blog Post: Day 14 of $QQQ short term down-trend; Too many failed break-outs; End of daily RWB pattern signalled to exit $META; Time to be on sidelines and in cash](https://wishingwealthblog.com/2024/04/blog-post-day-14-of-qqq-short-term-down-trend-too-many-failed-break-outs-end-of-daily-rwb-pattern-signalled-to-exit-meta-time-to-be-on-sidelines-and-in-cash/) - Arrow shows trading after hours! Better to exit when the RWB pattern first disappeared. Best to hold stocks in RWB up-trends. - [Blog Post: Day 12 of $QQQ short term down-trend; Adapted GMMA charts of $BA, $NFLX, and $CAVA illustrate the patterns to look for before trading any stock or ETF](https://wishingwealthblog.com/2024/04/blog-post-day-12-of-qqq-short-term-down-trend-adapted-gmma-charts-of-ba-nflx-and-cava-illustrate-the-patterns-to-look-for-before-trading-any-stock-or-etf/) - We want to buy or hold stocks/ETFs that are closing repeatedly (dotted line) above all of the shorter averages (red lines) which in turn should be rising above the longer term averages (blue lines) so that there is a white space between them=RWB pattern. The opposite pattern, BWR, shows a down-trend. BA shows a RWB - [Blog Post: Day 11 of $QQQ short term down-trend; Only 17% of NASDAQ 100 stocks closed above their 50 day averages; Revised GMI table now includes the Weekly 10.4 Stochastic, a key indicator of a rising market or stock, see $QQQ and $NVDA; Cash is King!](https://wishingwealthblog.com/2024/04/blog-post-day-11-of-qqq-short-term-down-trend-only-17-of-nasdaq-100-stocks-closed-above-their-50-day-averages-revised-gmi-table-now-includes-the-weekly-10-4-stochastic-a-key-indicator-of-a-rising/) - I recently discovered that the weekly 10.4 stochastic is a great indicator for an advancing market or stock. I am now recording the value in the last line of my GMI table, see below. Look at this weekly chart of QQQ. Note that the strong advancing market typically has a weekly 10.4 stochastic >=80 for - [Blog Post: Day 9 of $QQQ short term down-trend; 21 US new highs, 79 lows and 4 at ATH; I am 100% cash; My adapted GMMA daily charts tell the short term story; when the RWB pattern disappears, I exit; see example charts of $QQQ,$DIA,$SPY,$NVDA,$TSLA](https://wishingwealthblog.com/2024/04/blog-post-day-9-of-qqq-short-term-down-trend-21-us-new-highs-79-lows-and-4-at-ath-i-am-100-cash-my-adapted-gmma-daily-charts-tell-the-short-term-story-when-the-rwb-pattern-disappears-i-exit-s/) - My adapted daily GUPPY, GMMA charts tell me when an up-trend has ended. My former student, Richard Moglen, tells how to build them using TC2000. As long as the shorter term (red) averages are rising above the longer term (blue) averages with a white space separating them, RWB, the up-trend is intact. When the white - [Blog Post: GMI turns RED; Day 6 of $QQQ short term down-trend; only 28% of NASDAQ 100 stocks closed above their 50 day averages; cash is king!](https://wishingwealthblog.com/2024/04/blog-post-gmi-turns-red-day-6-of-qqq-short-term-down-trend-only-28-of-nasdaq-100-stocks-closed-above-their-50-day-averages-cash-is-king/) - QQQ has broken below its recent support level on above average volume. DIA and SPY are equally weak. Support may be around 405 or the green line at 408. This is the time for me to be on the sidelines in my trading accounts. The longer term trend remains up but the GMI has turned - [Blog Post: Day 6 of $QQQ short term down-trend; GMI=2; Will earnings save this market?](https://wishingwealthblog.com/2024/04/blog-post-day-6-of-qqq-short-term-down-trend-gmi2-will-earnings-save-this-market/) - As I indicated in a tweet, @wishingwealth, intraday last Friday, I went to cash in my trading account. Too many breakouts have failed. GLD looked like it had experienced a high volume reversal. SPY and QQQ have now closed below their 10 week averages. Another weak day will turn the GMI to Red. I will - [Blog Post: Day 5 of $QQQ short term down-trend that could end Friday; the GMI remains Green; $QQQ holds support and shows strength, and is in a nice weekly RWB up-trend and $AMZN has GLB, see charts; earnings release rally may have finally begun](https://wishingwealthblog.com/2024/04/blog-post-day-5-of-qqq-short-term-down-trend-that-could-end-friday-the-gmi-remains-green-qqq-holds-support-and-shows-strength-and-is-in-a-nice-weekly-rwb-up-trend-and-amzn-has-glb-see-charts/) - Thus far, QQQ has held above last week's low of 435.11 and has reclaimed its 4 and 10 week averages. My adapted weekly GMMA chart shows QQQ to remain in a sustained RWB up-trend. The dotted line represents each weekly close. The purple dots are the weekly lows. We want all the short term (red) - [Blog Post: Day 4 of $QQQ short term down-trend; More US new lows than highs; GMI falls to 2 and could turn Red; QQQ is resting on its lower daily 15.2 Bollingeer Band, see daily chart.](https://wishingwealthblog.com/2024/04/blog-post-day-4-of-qqq-short-term-down-trend-more-us-new-lows-than-highs-gmi-falls-to-2-and-could-turn-red-qqq-is-resting-on-its-lower-daily-15-2-bollingeer-band-see-daily-chart/) - Note that I have added a red dot indicator to my primary daily chart. A red dot indicates that a stock closes down on the day it exceeded its upper daily 15.2 Bollinger Band. I do not want to buy on a red dot bar and sometimes may want to sell or trade a potential - [Blog Post: Day 1 of new $QQQ short term down-trend, but QQQ has black dot and finds support at 15.2 daily lower Bollinger Band and key averages; it must hold last week's low of 435.11, see daily chart](https://wishingwealthblog.com/2024/04/blog-post-day-1-of-new-qqq-short-term-down-trend-but-qqq-has-black-dot-and-finds-support-at-15-2-daily-lower-bollinger-band-and-key-averages-it-must-hold-last-weeks-low-of-435-11-see-daily-char/) - While a new QQQ short term down-trend began on Friday, many end within 5 days. The fact that QQQ held its lower Bollinger Band, its 50 day and 10 week averages and had a black dot oversold bounce suggests that this bounce may hold. The key is to hold last week's low. One thing going - [Blog Post: Day 60 of $QQQ short term up-trend, may end Friday; GMI falls to 4, $QQQ closes below 10 week average for first time since last October, see weekly chart](https://wishingwealthblog.com/2024/04/blog-post-day-60-of-qqq-short-term-up-trend-may-end-friday-gmi-falls-to-4-qqq-closes-below-10-week-average-for-first-time-since-last-october-see-weekly-chart/) - A lot of technical damge was done on Thursday. Friday's reaction to the jobs report should determine whether this decline will broaden. 10 week average is the blue dotted line. Support for the longer term up-trend is the 30 week average (red solid line). - [Blog Post: Day 59 of $QQQ short term up-trend; $GLD has had a nice run since GLB and Blue Dot signal, see daily chart](https://wishingwealthblog.com/2024/04/blog-post-day-59-of-qqq-short-term-up-trend-gld-has-had-a-nice-run-since-glb-and-blue-dot-signal-see-daily-chart/) - Even had a green dot signal. How high can it go? Be careful. - [Blog Post: Day 57 of $QQQ short term up-trend; $GOOGL has GLB to ATH, see daily and monthly charts](https://wishingwealthblog.com/2024/04/blog-post-day-57-of-qqq-short-term-up-trend-googl-has-glb-to-ath-see-daily-and-monthly-charts/) - Thanks to my extraordinary former student, Richard Moglen, for bringing this to my attention by one of his tweets: @RichardMoglen and @Deepvue My audience should be following him. - [Blog Post: My 10:30 weekly chart shows me that QQQ remains in a strong up-trend, as does the GMI](https://wishingwealthblog.com/2024/03/blog-post-my-1030-weekly-chart-shows-me-that-qqq-remains-in-a-strong-up-trend-as-does-the-gmi/) - As long as the 10 week average (blue dotted line) is rising above the 30 week average (red solid line) the odds are in favor of my being invested long. Compare the pattern during the 2022 decline to the advance that began in March 2023. The gray line is the weekly close, which can give - [Blog Post: Day 55 of $QQQ short term up-trend; 238 US new highs, 2 lows and 82 at ATH; Recent IPO, $OWL, is flying high after GLB, see daily and monthly charts](https://wishingwealthblog.com/2024/03/blog-post-day-55-of-qqq-short-term-up-trend-238-us-new-highs-2-lows-and-82-at-ath-recent-ipo-owl-is-flying-high-after-glb-see-daily-and-monthly-charts/) - According to MS, Comp=96, RS=93, EPS=65 and ACC/DIS=A. Worth a hoot? - [Blog Post: Day 54 of $QQQ short term up-trend; $RRR has low volume GLB, see daily and monthly charts](https://wishingwealthblog.com/2024/03/blog-post-day-54-of-qqq-short-term-up-trend-rrr-has-low-volume-glb-see-daily-and-monthly-charts/) - RRR has RS=87, Comp=63 and EPS=15, not great MS fundamentals. But its daily and monthly charts look interesting. - [Blog Post: Day 52 of $QQQ short term up-trend; GMI remains at 6 (of 6) and on a Green signal; Bitcoin has green and black dots, see daily chart and $IBIT](https://wishingwealthblog.com/2024/03/blog-post-day-52-of-qqq-short-term-up-trend-gmi-remains-at-6-of-6-and-on-a-green-signal-bitcoin-has-green-and-black-dots-see-daily-chart-and-ibit/) - Bitcoin may be ready to bounce, must holder lower Bollinger Band at 61,833. Black dots indicate oversold bounces. I own a little of IBIT, for fun, see chart. Markets remain in shot and longer term up-trends. - [Blog Post: Day 51 of $QQQ short term up-trend; $GS broke out of a multi-month consolidation and is heading towards its green line peak at ATH, see daily and monthly charts](https://wishingwealthblog.com/2024/03/blog-post-day-51-of-qqq-short-term-up-trend-gs-broke-out-of-a-multi-month-consolidation-and-is-heading-towards-its-green-line-peak-at-ath-see-daily-and-monthly-charts/) - Huge volume on Thursday. Let's see if GS can close above its green line top at 426.16 from 11/2021 to an ATH. See daily and monthly charts. Note all of the green and black dots designating oversold bounces. See my blog webinar tab for my recent presentation about dots. - [Blog Post: Day 50 of $QQQ short term up-trend; 267 US new highs, 22 lows and 126 at all-time highs; $QQQ has green dot, see daily chart](https://wishingwealthblog.com/2024/03/blog-post-day-50-of-qqq-short-term-up-trend-334-us-new-highs-26-lows-and-152-at-all-time-highs-qqq-has-green-dot-see-daily-chart/) - Green dot is a sign of strength. QQQ held its lower 15.2 Bollinger Band and had a green dot after a black dot. Go to my blog webinar tab and see my recent VA meetup speech to understand the dots. Note QQQ is above its last green line, near all-time highs. I am holding some - [Blog Post: Day 49 of $QQQ short term up-trend; QQQ holding on but must hold above lower 15.2 Bollinger Band, at 432.60, see daily and Guppy charts](https://wishingwealthblog.com/2024/03/blog-post-day-49-of-qqq-short-term-up-trend-qqq-holding-on-but-must-hold-above-lower-15-2-bollinger-band-at-432-60-see-daily-and-guppy-charts/) - As long as the Fed has no surprises tomorrow and the government does not close at the end of the week, QQQ may be out of the woods. - [Blog Post: Day 47 of $QQQ short term up-trend, Monday will tell us if this short term up-trend has ended; the GMI is still Green](https://wishingwealthblog.com/2024/03/blog-post-day-47-of-qqq-short-term-up-trend-monday-will-tell-us-if-this-short-term-up-trend-has-ended-the-gmi-is-still-green/) - I have observed that during the post-earnings release period, like now, the market often declines, setting up for the advance when the next quarter's earnings are released. If the QQQ short term trend turns down on Monday, I will wait on the sidelines until it bounces. QQQ is not really down enough to be oversold - [Blog post: Day 45 of $QQQ short term up-trend; Strongly advancing stock, $ANF, has black dots, signifying oversold bounce, see daily and weekly charts](https://wishingwealthblog.com/2024/03/blog-post-day-45-of-qqq-short-term-up-trend-strongly-advancing-stock-anf-has-black-dots-signifying-oversold-bounce-see-daily-and-weekly-charts/) - Low of bounce must hold. Note the GLB, green line break-out, last December. Incredibly strong weekly advance. Now bouncing off of 10 week average. . - [Blog Post: Day 44 of $QQQ short term up-trend; $QQQ has black dot, oversold bounce, see daily chart and list of 16 strong stocks that had a black dot on Tuesday](https://wishingwealthblog.com/2024/03/blog-post-day-44-of-qqq-short-term-up-trend-qqq-has-black-dot-oversold-bounce-see-daily-chart-and-list-of-16-strong-stocks-that-had-a-black-dot-on-tuesday/) - I bought some TQQQ on Tuesday. Learn about my black dot indicator in my 2024 Meetup presentation listed on the webinar tab of my blog. Use the box below to subscribe to my blog and follow my tweets @wishingwealth. These stocks met my criteria for technically strong stocks that are up at least 50% the - [Blog Post: Day 42 of $QQQ short term up-trend; GMI remains Green and registers 6 (of 6); $QQQ remains in a short term up-trend but found resistance on Friday at its upper 15.2 daily Bollinger Band; waiting for dots, see daily chart](https://wishingwealthblog.com/2024/03/blog-post-day-42-of-qqq-short-term-up-trend-gmi-remains-green-and-registers-6-of-6-qqq-remains-in-a-short-term-up-trend-but-found-resistance-on-friday-at-its-upper-15-2-daily-bollinger-band-wa/) - Friday's decline came on markedly increased trading volume. With earnings season over we may get a post-earnings lull until late March? A black or blue or green dot (oversold bounce) might signal the beginning of a new move up. Time will only tell.... Check out my dot indicators by going to the Webinars tab on - [Blog Post: Day 40 of $QQQ short term up-trend; See how my blue dot oversold bounce indicator called bottom in GLD yet again](https://wishingwealthblog.com/2024/03/blog-post-day-40-of-qqq-short-term-up-trend-see-how-my-blue-dot-oversold-bounce-indicator-called-bottom-in-gld-yet-again/) - I described my blue dot indicator in my recent 1/2024 No VA meetup presentation which you can access on this blog at the Webinars tab. Note the GLB too. - [Blog Post: Day 39 of $QQQ short term up-trend; $AAPL in daily BWR down-trend, see adapted guppy chart](https://wishingwealthblog.com/2024/03/blog-post-day-39-of-qqq-short-term-up-trend-aapl-in-daily-bwr-down-trend-see-adapted-guppy-chart/) - Not a good time to hold AAPL. See adapted guppy chart and weekly chart. AAPL closed below its 30 week average 4 weeks ago and may be entering a Stage 4 decline. - [Blog Post: Day 37 of $QQQ short term up-trend; My scan of the best performing stocks that were at least 1.9x their price a year ago and reached an ATH within the past 10 weeks yielded these 23 stocks](https://wishingwealthblog.com/2024/03/blog-post-day-37-of-qqq-short-term-up-trend-my-scan-of-the-best-performing-stocks-that-were-at-least-1-9x-their-price-a-year-ago-and-reached-an-ath-within-the-past-10-weeks-yielded-these-23-stocks/) - These are worth researching. They all reached an ATH in the past 10 weeks, have a weekly 10.4 stochastics>=80 for at least the past 10 consecutive weeks and come from my watchlist of IBD/MS stocks. The list is sorted by current price/price 250 days ago. The GMI is Green and registers 6 (of 6). - [Blog Post: Day 36 of $QQQ short term up-trend; 13 GLBs Thursday: $CELH, $SOVO, $RYAN, $CAVA, $DCI, $CRAI, $CECO, $ATKR, $SXI, $EMR, $LDOS, $ALV, $LLYVA, see charts](https://wishingwealthblog.com/2024/02/blog-post-day-36-of-qqq-short-term-up-trend-13-glbs-thursday-celh-sovo-ryan-cava-dci-crai-ceco-atkr-sxi-emr-ldos-alv-llyva-see-charts/) - A few of these had their GLB (green line break-out) on Wednesday but looked good enough to list. A GLB is moire likely to work out if it occurs with above average trading volume. Here are two examples. A close below the green line would be a failed GLB. - [Blog Post: Day 34 of $QQQ short term up-trend; $ANF, an amazing pattern of an advancing growth stock, see weekly chart and explanation of this technical pattern, also $GCT](https://wishingwealthblog.com/2024/02/blog-post-day-34-of-qqq-short-term-up-trend-anf-an-amazing-pattern-of-an-advancing-growth-stock-see-weekly-chart-and-explanation-of-this-technical-pattern-also-gct/) - I have found that one of the best patterns for an advancing stock is one where the 4wk average>10wk avg >30wk avg for several weeks and the stock consistently closes the week above its 4 week average. In such a stock one could buy when the stock closes the week after a bounce above its - [Blog Post: Day 32 of $QQQ short term up-trend; Recent IPO, $GEHC, has a GLB, see weekly and monthly charts; GMI remains Green at 6 (of 6)](https://wishingwealthblog.com/2024/02/blog-post-day-32-of-qqq-short-term-up-trend-recent-ipo-gehc-has-a-glb-see-weekly-and-monthly-charts-gmi-remains-green-at-6-of-6/) - GEHC came public in December, 2022. Last week it closed at an ATH, after a many months long consolidation. See weekly and monthly charts. To remain a successful GLB, it must not close below the green line, at 87.83. - [Blog Post: Day 31 of $QQQ short term up-trend; Since Day 1 on January 9, QQQ has advanced +7.98%, but $TQQQ is up +22.7% and beat 94% of Nasdaq100 stocks and 99% of S&P500 stocks, see daily chart](https://wishingwealthblog.com/2024/02/blog-post-day-31-of-qqq-short-term-up-trend-since-day-1-on-january-9-qqq-has-advanced-7-98-but-tqqq-is-up-22-7-and-beat-94-of-nasdaq100-stocks-and-98-of-sp500-stocks-see-daily-chart/) - On January 9, QQQ began a new short term up-trend and also had a blue dot oversold bounce. Why trade individual stocks when one can trade TQQQ and beat almost all individual stocks during a short term up-trend? - [Blog Post: Day 28 of $QQQ short term up-trend; GMI remains Green and at 6 (of 6); $SMCI had a beautiful high volume GLB in January but had a likely climax top and selling last Friday, see daily chart](https://wishingwealthblog.com/2024/02/blog-post-day-28-of-qqq-short-term-up-trend-gmi-remains-green-and-at-6-of-6-smci-had-a-beautiful-high-volume-glb-in-january-but-had-a-likely-climax-top-and-selling-last-friday-see-daily-chart/) - SMCI had a wonderful GLB on January 19 and rocketed higher. However, note the huge volume on the down day on Friday. This could reflect a similar overbought situation with other high flyers. Be careful. We have had a strong market during the release of 4th quarter earnings. I suspect we are likely to have - [Blog Post: Day 27 of $QQQ short term up-trend; 288 US new highs and 16 lows and 133 at ATH; 6 stocks above their green line with a green dot after a black dot, see example charts of $FSS, $HLT](https://wishingwealthblog.com/2024/02/blog-post-day-27-of-qqq-short-term-up-trend-288-us-new-highs-and-16-lows-and-133-at-ath-6-stocks-above-their-green-line-with-a-green-dot-after-a-black-dot-see-example-charts-of-fss-itt/) - To understand my dot indicators check out my recent webinar recording. - [Blog Post: Day 26 of $QQQ short term up-trend; $UBER surges to ATH on above average volume after a successful GLB I posted about in mid January](https://wishingwealthblog.com/2024/02/blog-post-day-26-of-qqq-short-term-up-trend-uber-surges-to-ath-on-above-average-volume-after-a-successful-glb-i-posted-about-in-mid-january/) - On January 18 I said that UBER had finally closed above its February 2021 peak of 64.05 (its green line) to an ATH. After retesting the green line once it moved higher and took off today. UBER is in my GLB Tracker table and is 23.8% above its green line. Buying a GLB can work - [Blog Post: Day 25 of $QQQ short term up-trend; During big market decline, $AMD and $NXPI hold their green lines--for now, see daily charts](https://wishingwealthblog.com/2024/02/blog-post-day-25-of-qqq-short-term-up-trend-during-big-market-decline-amd-and-nxpi-hold-their-green-lines-for-now-see-daily-charts/) - [Blog Post: Day 23 of $QQQ short term up-trend; $NXPI retakes green line; $GBTC has blue/green/black dots signaling bitcoin rise, see charts](https://wishingwealthblog.com/2024/02/blog-post-day-23-of-qqq-short-term-up-trend-nxpi-retakes-green-line-gbtc-has-blue-green-black-dots-signaling-bitcoin-rise-see-charts/) - NXPI had a failed GLB but closed back above the green line on Friday. Note all of the black dots and the recent green dot. To remain a successful GLB it must not close below the green line, @228.72. Note the 3 dots on January 26 for GBTC. To understand the dots you must go - [Blog Post: Day 22 of $QQQ short term up-trend; See list of 14 stocks that at least doubled this year that reached an ATH on Thursday](https://wishingwealthblog.com/2024/02/blog-post-day-22-of-qqq-short-term-up-trend-see-list-of-14-stocks-that-at-least-doubled-this-year-that-reached-an-ath-on-thursday/) - Last column shows current price divided by price 250 days ago. SMCI leads the pack, at 8x its price a year ago. Study their charts to help you identify wining patterns. Stoc1.1 shows where the stock closed in Thursday's price bar. For example, BLDR ,with a Stoc1.1= 97, closed near the top of its price - [Blog Post: Day 20 of $QQQ short term up-trend; $TM raises outlook and has extreme volume GLB to ATH, see daily chart.](https://wishingwealthblog.com/2024/02/blog-post-day-20-of-qqq-short-term-up-trend-tm-raises-outlook-and-has-extreme-volume-glb-to-ath-see-daily-chart/) - To remain a successful GLB, TM must not close below its green line @213.74 peak reached in January, 2022. Note the huge gap open Tuesday. - [Blog Post: Day 18 of $QQQ short term up-trend; only 31% of US stocks and 56% of Nasdaq 100 stocks rose on Friday and T2108 declined=weakness under the hood](https://wishingwealthblog.com/2024/02/blog-post-day-18-of-qqq-short-term-up-trend-only-31-of-us-stocks-and-56-of-nasdaq-100-stocks-rose-on-friday-and-t2108-declinedweakness-under-the-hood/) - My scan found only 2 growth stocks having oversold bounces with blue dots on Friday (WSM and MUSA). I will ride my strong stocks but wait for more stocks with blue dots to appear to make new buys. The strong AI related stocks may be masking weakness in the general market. The GMI remains Green - [Blog Post: Go to my blog to get the link to the recording of my presentation to the Northern VA IBD Meetup last week; I provide an overview of my university course's content](https://wishingwealthblog.com/2024/02/blog-post-go-to-my-blog-to-get-the-link-to-the-recording-of-my-presentation-to-the-northern-va-ibd-meetup-last-week-i-provide-an-overview-of-my-university-courses-content/) - Here is the link to my presentation to the Northern Virginia IBD Meetup. Join this meetup to receive excellent training from Vas Madhava. - [Blog Post: Day 17 of $QQQ short term up-trend; Last night I showed how to identify a GLB and my Black, Green and Blue dot setups; This chart of $VRT shows how to buy a stock after the GLB using these setups; watch for the session recording](https://wishingwealthblog.com/2024/02/blog-post-day-17-of-qqq-short-term-up-trend-last-night-i-showed-how-to-identify-a-glb-and-my-black-green-and-blue-dot-setups-this-chart-of-vrt-shows-how-to-buy-a-stock-after-the-glb-using-these/) - At the IBD Meetup last night I showed how to spot a GLB and explained how to use my green/black/blue dot setups. These are oversold bounces. I meant to say if one missed buying near when the GLB occurred, they could wait to buy it later if it had a green/black or blue dot setup. - [Blog Post: Day 15 of $QQQ short term up-trend; $SMCI had a GLB 2 weeks ago and has been on fire, see weekly chart, added it to my Successful GLB Tracker table, up 43.7%; my online lecture is Wednesday evening](https://wishingwealthblog.com/2024/01/blog-post-day-15-of-qqq-short-term-up-trend-smci-had-a-glb-2-weeks-ago-and-has-been-on-fire-see-weekly-chart-added-it-to-my-successful-glb-tracker-table-up-43-7-my-online-lecture-is-wednesday/) - Note volume on breakout. I have added SCMI to my GLB Successful Tracker table. See you tomorrow night at the Northern Virginia IBD Meetup online meeting? It is free and open to public. - [Blog Post: Day 13 of $QQQ short term up-trend and GMI= 6 (of 6) and Green. Note the stocks in the Successful GLB Tacker table.](https://wishingwealthblog.com/2024/01/blog-post-day-13-of-qqq-short-term-up-trend-and-gmi-6-of-6-and-green-note-the-stocks-in-the-successful-glb-tacker-table/) - This chart updates throughout the trading day. It shows the date of the GLB (green line breakout), the price where the green line top was and how much the stock's current price is above the green line. Buying stocks breaking above an ATH top can be very profitable. - [Blog Post: Day 11 of $QQQ short term up-trend; $AMD holds green line after recent GLB and closes at ATH, see daily chart](https://wishingwealthblog.com/2024/01/blog-post-day-11-of-qqq-short-term-up-trend-amd-holds-green-line-after-recent-glb-and-closes-at-ath-see-daily-chart/) - Nice volume on the way up. Comp rating and RS both =97. Earnings projected to be up +52% in 2024. Reports earnings on 1/30. Note the blue, black and green dot signals. (I warned you about holding TSLA.) - [Blog Post: Day 10 of $QQQ short term up-trend; My GLB Tracker Table, updated daily, shows stocks that had a successful GLB; Buying stocks that break-out to an ATH after a 3 month or longer consolidation can be very profitable](https://wishingwealthblog.com/2024/01/blog-post-day-10-of-qqq-short-term-up-trend-my-glb-tracker-table-updated-daily-shows-stocks-that-had-a-successful-glb-buying-stocks-that-break-out-to-an-ath-after-a-3-month-or-longer-consolidat/) - Of course not all GLBs, green line breakouts, are successful. The key is to sell a GLB breakout immediately if it CLOSES back below the green line. This table's statistics are updated throughout the trading day on this blog. - [Blog Post: Day 9 of $QQQ short term up-trend; 302 US new highs, 20 lows and 138 at ATH, $TSLA to report earnings this week and looks technically weak, see 10:30 weekly chart and possible shorting ETFs](https://wishingwealthblog.com/2024/01/blog-post-day-9-of-qqq-short-term-up-trend-302-us-new-highs-20-lows-and-138-at-ath-tsla-to-report-earnings-this-week-and-looks-technically-weak-see-1030-weekly-chart-and-possible-shorting-etfs/) - TSLA reports earnings on Wednesday. I think this 10:30 weekly chart shows TSLA to be technically weak and possibly entering a Stage 4 decline. The stock is below its 10 and 30 week averages, the 10 week is below the 30 week and the 30 week average (solid red line) is starting to curve down. - [Blog Post: Day 8 of $QQQ short term up-trend and $SPY has a GLB! See daily chart and explanation; $TQQQ beats 95% of stocks again; Learn how to access my TC2000 tutorials](https://wishingwealthblog.com/2024/01/blog-post-day-8-of-qqq-short-term-up-trend-and-spy-has-a-glb-see-daily-chart-and-explanation-tqqq-beats-95-of-stocks-again-learn-how-to-access-my-tc2000-tutorials/) - With GMI=6 (of 6) and Green, see table below, and the SPY now above its green line top from January, 2022, the market is in short and longer term up-trends. My QQQ short term indicator signaled a renewed short term up-trend on January 8. I had noted that the market tends to rally during earnings - [Blog Post: Day 7 of the $QQQ short term up-trend; GMI returns to 6; $UBER finally has GLB and closes at an ATH, see daily and monthly charts](https://wishingwealthblog.com/2024/01/blog-post-day-7-of-the-qqq-short-term-up-trend-gmi-returns-to-6-uber-finally-has-glb-and-closes-at-an-ath-see-daily-and-monthly-charts/) - UBER finally broke through its peak from February 2021. - [Blog Post: Day 6 of $QQQ short term up-trend; But the rapid swoon of $T2108 suggests considerable technical weakness in NYSE stocks, see daily chart and explanation](https://wishingwealthblog.com/2024/01/blog-post-day-6-of-qqq-short-term-up-trend-but-the-rapid-swoon-of-t2108-suggests-considerable-technical-weakness-in-nyse-stocks-see-daily-chart-and-explanation/) - T2108 measures the percentage of NYSE stocks that have closed above their 40 day simple moving averages. After reaching close to 80% T2108 has rapidly declined to 44%. - [Blog Post: Day 5 of $QQQ short term up-trend; See list of 10 stocks at ATH, including $NVDA, $ELF and $MSFT once again](https://wishingwealthblog.com/2024/01/blog-post-day-5-of-qqq-short-term-up-trend-see-list-of-10-stocks-at-ath-including-nvda-elf-and-msft-once-again/) - [Blog Post: Day 4 of $QQQ short term up-trend; 124 US new highs, 7 lows and 61 at ATH; see list of 10 stocks that doubled from a year ago and reached an ATH last Friday](https://wishingwealthblog.com/2024/01/blog-post-day-4-of-qqq-short-term-up-trend-124-us-new-highs-7-lows-and-61-at-ath-see-list-of-10-stocks-that-doubled-from-a-year-ago-and-reached-an-ath-last-friday/) - These stocks are at least 2x their closing price a year ago, as shown in the last column. VRT is 4.1x its price a year ago. Nicolas Darvas and David Ryan liked to buy stocks that have already doubled in price. A stock that has already doubled is likely to be capable of going much - [Blog Post; Day 3 of $QQQ short term up-trend; AI ETF, $CHAT, retakes green line and closes at ATH, see daily chart](https://wishingwealthblog.com/2024/01/blog-post-day-3-of-qqq-short-term-up-trend-ai-etf-chat-retakes-green-line-and-closes-at-ath-see-daily-chart/) - Note my green and black dot bounce indicators. I have a small position. - [Blog Post: Day 2 of $QQQ short term up-trend; 3 residential construction stocks reach ATH: $PHM, $DHI, $NVR, see daily charts of $PHM and homebuilders ETF, $XHB](https://wishingwealthblog.com/2024/01/blog-post-day-2-of-qqq-short-term-up-trend-3-residential-construction-stocks-reach-ath-phm-dhi-nvr-see-daily-charts-of-phm-and-homebuilders-etf-xhb/) - Note the GLB, green line breakout, on 11/14/23 and the recent black and green dots. Residential housing stocks are booming. Also see the homebuilders ETF, XHB, also with a GLB and black and green dots, designating oversold bounces. - [Blog Post: Day 1 of new $QQQ short term up-trend, buying $TQQQ; 16 growth stocks hitting ATH on Tuesday, see the list, which includes $NVDA](https://wishingwealthblog.com/2024/01/blog-post-day-1-of-new-qqq-short-term-up-trend-buying-tqqq-16-growth-stocks-hitting-ath-on-tuesday-see-the-list-which-includes-nvda/) - With the new QQQ short term up-trend I am accumulating a little TQQQ. If this up-trend lasts, TQQQ is the way for me to ride it. TQQQ beats most stocks in an up-trend. The last QQQ short term up-trend lasted 42 days and TQQQ rose +34.9%, beating 95% of the Nasdaq 100 stocks and 99% - [Blog Post: Day 2 of the new $QQQ short term down-trend; it could end on Tuesday as we enter 4th quarter earnings release period; many blue dot signals, see chart of $AMD](https://wishingwealthblog.com/2024/01/blog-post-day-2-of-the-new-qqq-short-term-down-trend-it-could-end-on-tuesday-as-we-enter-4th-quarter-earnings-release-period-many-blue-dot-signals-see-chart-of-amd/) - I wrote yesterday that 40% of new QQQ short term down-trends end in less than 5 days. I subsequently tweeted on Monday that it looked to me like the current down-trend might end on Tuesday. The market often declines before rising as earnings are released. I sold my small position in SQQQ and bought a - [Blog Post: Day 1 of new $QQQ short term down-trend; But 10 growth stocks did reach an ATH, see list; Of note, $JPM reached an ATH last week but closed just below its green line peak of $172.96](https://wishingwealthblog.com/2024/01/blog-post-day-1-of-new-qqq-short-term-down-trend-but-10-growth-stocks-did-reach-an-ath-see-list-of-note-jpm-reached-an-ath-last-week-but-closed-just-below-its-green-line-peak-of-172-96/) - Stocks on my recent IBD/MS watchlists, sorted by last column, close /close 250 days ago. KGS was a recent IPO in 6/23. The GMI, at 3, still signifies a longer term up-trend. However, within this up-trend, QQQ has begun a short term down-trend. About 40% of these short term down-trends end within 5 days. If - [Blog Post: $QQQ short term up-trend could end Friday; Meanwhile, $QS rockets higher on battery test results. I don't mean to plug it but the results are electrifying. See daily chart and how I found out about it.](https://wishingwealthblog.com/2024/01/blog-post-qqq-short-term-up-trend-could-end-friday-meanwhile-qs-rockets-higher-on-battery-test-results-i-dont-mean-to-plug-it-but-the-results-are-electrifying-see-daily-chart-and-how-i-found/) - More than a year ago, my stock buddy, Judy, told me about QS. Judy had researched the company and was excited about the solid-state battery they were developing. This morning she called me to say that QS was rocketing higher on news with enormous trading volume and that I should buy some. She also noted - [Blog Post: Day 41 of $QQQ short term up-trend, GMI declines to 4 (of 6); After 9 straight weeks above, $QQQ is now below its 4 wk average, see weekly chart](https://wishingwealthblog.com/2024/01/blog-post-day-41-of-qqq-short-term-up-trend-gmi-declines-to-4-of-6-after-9-straight-weeks-above-qqq-is-now-below-its-4-wk-average-see-weekly-chart/) - A stong advance is evident when the 4wk>10wk>30 average and the stock continually climbs above the 4 wk average. It is clear from this chart that QQQ is now below the 4 wk average (red dotted line). If it closes the week below, it suggests to me that the recent up-trend is over for now. - [Blog Post: Day 40 of $QQQ short term up-trend; 73 US new highs and 3 lows; Magnificent 7 all decline, see table; $AAPL has double top at green line peak? See weekly chart.](https://wishingwealthblog.com/2024/01/blog-post-day-40-of-qqq-short-term-up-trend-73-us-new-highs-and-3-lows-magnificent-7-all-decline-see-table-aapl-has-double-top-at-green-line-peak-see-weekly-chart/) - These big name tech stocks fell. However, many stocks were extended and by my definition, the number of NASDAQ 100 stocks that were extended fell from 42 on 12/29 to 5 on Tuesday. The range last week was 42-54% extended stocks. AAPL is looking quite weak. This weekly chart shows a possible double top. Note - [Blog Post: Happy New Year! 10:30 weekly charts shows $QQQ, $SPY and $DIA remain in a Stage 2 up-trend, see chart for $QQQ; GMI remains Green and is at 6 (of 6)](https://wishingwealthblog.com/2024/01/blog-post-happy-new-year-1030-weekly-charts-shows-qqq-spy-and-dia-remain-in-a-stage-2-up-trend-see-chart-for-qqq-gmi-remains-green-and-is-at-6-of-6/) - As long as the index is rising above its 30 week average (red line) and the 10 week average (dotted line) is above the 30 week average, then the index remains in an up-trend. I do not try to predict, only to determine the market's current trend. The gray solid line is the weekly close. - [Blog Post: Day 38 of $QQQ short term up-trend; $CHAT, after a GLB, closed at ATH and is an ETF focusing on AI, see daily and monthly charts and list of holdings](https://wishingwealthblog.com/2023/12/blog-post-day-38-of-qqq-short-term-up-trend-chat-after-a-glb-closed-at-ath-and-is-an-etf-focusing-on-ai-see-daily-and-monthly-charts-and-list-of-holdings/) - Here is a list of CHAT's holdings. Note the recent GLB, green line break-out, to an all-time high, ATH. CHAT came public in May of this year. - [Blog Post: Day 37 of $QQQ short term up-trend; 350 US new highs and 2 lows with 138 at ATH! $QQQ had GLB and closed at ATH, see daily chart; $SPY approaching its green line, see monthly chart](https://wishingwealthblog.com/2023/12/blog-post-day-37-of-qqq-short-term-up-trend-350-us-new-highs-and-2-lows-with-138-at-ath-qqq-had-glb-and-closed-at-ath-see-daily-chart-spy-approaching-its-green-line-see-monthly-chart/) - Note the green line break-out (GLB) to an all-time high (ATH) on Tuesday. Monthly chart shows SPY just below its green line. - [Blog Post: Day 36 of $QQQ short term up-trend; Here are 14 of 78 growth stocks that reached an ATH on Tuesday that closed at least twice their price one year ago](https://wishingwealthblog.com/2023/12/blog-post-day-36-of-qqq-short-term-up-trend-here-are-14-of-78-growth-stocks-that-reached-an-ath-on-tuesday-that-closed-at-least-twice-their-price-one-year-ago/) - These stocks from my IBD/MS lists are sorted by the last column, closing price/price a year ago. - [Blog Post: GMI remains at 6 (of 6) and on a Green signal since close on 11/15; Continuing end of quarter mutual fund window dressing this week](https://wishingwealthblog.com/2023/12/blog-post-gmi-remains-at-6-of-6-and-on-a-green-signal-since-close-on-11-15-continuing-end-of-quarter-mutual-fund-window-dressing-this-week/) - [Blog Post: Day 34 of $QQQ short term up-trend; 115 US new highs and 6 lows; $NXT retakes green line to ATH on above average volume, see daily chart and IBD/MS ratings](https://wishingwealthblog.com/2023/12/blog-post-day-34-of-qqq-short-term-up-trend-115-us-new-highs-and-6-lows-nxt-retakes-green-line-to-ath-on-above-average-volume-see-daily-chart-and-ibd-ms-ratings/) - I bought NXT back after it recovered from a failed GLB. Note the nice volume. Monthly chart shows it was an IPO in February, 2023. IBD/MS indicates high ratings. Comp=97, RS=91, EPS=95. Last 3 quarters of earnings are up triple digits. It is in the hot solar industry. Must close above green line at 46.55. - [Blog Post: Market was very extended, let's see how much of the recent gain will be given back, see discussion and weekly charts](https://wishingwealthblog.com/2023/12/blog-post-market-was-very-extended-lets-see-how-much-of-the-recent-gain-will-be-given-back-see-discussion-and-weekly-charts/) - Two of my sensitive indicators of the market becoming extended are T2108, which was nearing a nose bleed level of 80% and the fact that major stock indexes this week have been floating above their 4 week averages. Media pundits on CNBC opined that the news about China's plans to take over Taiwan was the - [Blog Post: Day 32 of $QQQ short term up-trend; 339 US new highs and 5 lows; $ANF has GLB and surpasses ATH set in 2007, see daily and monthly charts and great IBD/MS ratings](https://wishingwealthblog.com/2023/12/blog-post-day-32-of-qqq-short-term-up-trend-339-us-new-highs-and-5-lows-anf-has-glb-and-surpasses-ath-set-in-2007-see-daily-and-monthly-charts-and-great-ibd-ms-ratings/) - I would have liked to see more volume on day of green line breakout (GLB). ANF must not close below 85.77. IBD/MS comp rating =99 and RS=99. Last 3 quarters earnings are up triple digits! - [Blog Post: Day 30 of $QQQ short term up-trend; 293 US new highs and 11 lows; Mutual Fund window dressing upon us- the strong will shine; $DIA had GLB to ATH last week, see weekly and monthly charts](https://wishingwealthblog.com/2023/12/blog-post-day-30-of-qqq-short-term-up-trend-293-us-new-highs-and-11-lows-mutual-fund-window-dressing-upon-us-the-strong-will-shine-dia-had-glb-to-ath-last-week-see-weekly-and-monthly-charts/) - The GMI is Green and at 6 (of 6). We are entering the end of the 4th quarter when mutual funds buy up the strongest stocks so their quarterly reports make them look good. - [Blog Post: Residential housing is coming back, even $XHB, the homebuilders ETF has had a GLB to an ATH, see daily chart and impressive cup with handle pattern in monthly chart; Note $PHM in Successful GLB Tracker table below](https://wishingwealthblog.com/2023/12/blog-post-residential-housing-is-coming-back-even-xhb-the-homebuilders-etf-has-had-a-glb-to-an-ath-see-daily-chart-and-impressive-cup-with-handle-pattern-in-monthly-chart-note-phm-in-successful/) - [Blog Post: Day 27 of $QQQ short term up-trend; 245 US new highs and 27 lows; My Successful GLB Tracker table updated daily shows that buying stocks after a GLB and at an ATH can be very profitable.](https://wishingwealthblog.com/2023/12/blog-post-day-27-of-qqq-short-term-up-trend-245-us-new-highs-and-27-lows-my-successful-glb-tracker-table-updated-daily-shows-that-buying-stocks-after-a-glb-and-at-an-ath-can-be-very-profitable/) - All GLBs (green line break-outs) are not successful. If I buy one when it occurs, I sell if it closes back below its green line. Most of the trading gurus I respect made their best gains with stocks going to a series of all-time highs. Use the box below to sign up to receive my - [Blog Post: The market is strong with many growth stocks setting up; Here are 13 stocks that have all doubled over the past year, reached an ATH on Friday, and 9 of them met my criteria for a weekly green bar setup, indicated by the last column. See weekly chart of $PHM.](https://wishingwealthblog.com/2023/12/blog-post-the-market-is-strong-with-many-growth-stocks-setting-up-here-are-13-stocks-that-have-all-doubled-over-the-past-year-reached-an-ath-on-friday-and-9-of-them-met-my-criteria-for-a-weekly-gr/) - My weekly green bar setup looks for rising stocks that bounced up off of their rising 4wk average and reached a 20 week high in relative strength vs SPY. I buy them and place my stop just below the week's low. They are sorted by current price/price 250 days ago. All of these are at - [Blog Post: Day 24 0f $QQQ short term up-trend; 127 US new highs and 15 lows; this 10:30 weekly chart shows $QQQ Stage 2 up-trend gaining momentum](https://wishingwealthblog.com/2023/12/blog-post-day-24-0f-qqq-short-term-up-trend-127-us-new-highs-and-15-lows-this-1030-weekly-chart-shows-qqq-stage-2-up-trend-gaining-momentum/) - As long as the 10 week average (dotted line) is rising above the 30 week average, the up-trend is intact. Note the weekly closes (gray line) are leading the averages up. - [Blog Post: Day 23 of $QQQ short term up-trend; 194 US new highs and 79 lows; $GNE came up on my favorite setup, see daily and monthly charts and setup videos](https://wishingwealthblog.com/2023/12/blog-post-day-23-of-qqq-short-term-up-trend-194-us-new-highs-and-79-lows-gne-came-up-on-my-favorite-setup-see-daily-and-monthly-charts-and-setup-videos/) - I have noticed that in a strong market, it is sometimes profitable to buy a stock that has reached an all-time high after a recent GLB, declined to oversold, and then turned up. I scan for such stocks with TC2000 and found GNE today. I bought a little GNE and placed my stop below the - [Blog Post: Day 22 of $QQQ short term up-trend; 146 US new highs and 10 lows; Check out recent GLB of $IOT, will it hold? See daily and monthly charts.](https://wishingwealthblog.com/2023/12/blog-post-day-22-of-qqq-short-term-up-trend-146-us-new-highs-and-10-lows-check-out-recent-glb-of-iot-will-it-hold-see-daily-and-monthly-charts/) - [Blog Post: Day 21 of $QQQ short term up-trend; Small-cap stocks turning up, check out $IWM (and its 3x leveraged ETF,$TNA); Note the return of my Successful GLB Tracker table](https://wishingwealthblog.com/2023/12/blog-post-day-21-of-qqq-short-term-up-trend-small-cap-stocks-turning-up-check-out-iwm-and-its-3x-leveraged-etftna-note-the-return-of-my-successful-glb-tracker-table/) - [Blog Post: Day 20 of $QQQ short term up-trend; $HLT retakes green line, see daily chart, also home builders are rising, see chart of $NAIL](https://wishingwealthblog.com/2023/12/blog-post-day-20-of-qqq-short-term-up-trend-hlt-retakes-green-line-see-daily-chart-also-home-builders-are-rising-see-chart-of-nail/) - HLT had a failed GLB and then closed back above its green line on Friday after an oversold bounce, designated by the black dot. People I know are traveling and staying at hotels. I also noticed this weekend that parking spaces were exceedingly rare at Costco and other local shops. The consumer is back. Home - [Blog Post: Day 19 of $QQQ short term up-trend; $DIA on its way to GLB and ATH, see monthly chart](https://wishingwealthblog.com/2023/11/blog-post-day-19-of-qqq-short-term-up-trend-dia-on-its-way-to-glb-and-ath-see-monthly-chart/) - [Blog Post: Day 16 of $QQQ short term up-trend; 6 Stocks having a recent GLB to an ATH: $CWCO, $GDDY, $SKX, $V, $L, $BRO; $CWCO breaks ATH peak from 2007 on above average volume, IBD/MS Comp=99, see monthly and daily charts.](https://wishingwealthblog.com/2023/11/blog-post-day-16-of-qqq-short-term-up-trend-6-stocks-having-a-recent-glb-to-an-ath-cwco-gddy-skx-v-l-bro-cwco-breaks-ath-peak-from-2007-on-above-average-volume-ibd-ms-comp99-see-mo/) - In addition to its GLB today, CWCO caught my eye because it is expected to have earnings in 2023 up +220%. It has also almost tripled its yearly low. MS Accum/Dist rating=A+. Someone is accumulating this stock. Maybe there is a future in seawater desalination? It must not close back below the green line, at - [Very Important Blog Post explaining GLBs: Day 15 of $QQQ short term up-trend; 123 US new highs and 2 lows, 43 at ATHs; $PGR is an example of a successful GLB, see its monthly and daily charts and a list of 16 other stocks with a recent GLB.](https://wishingwealthblog.com/2023/11/very-important-blog-post-explaining-glbs-day-15-of-qqq-short-term-up-trend-123-us-new-highs-and-2-lows-43-at-aths-pgr-is-an-example-of-a-successful-glb-see-its-monthly-and-daily-charts-and-a-l/) - The leading successful stocks bought by such greats as Nicolas Darvas, William O'Neil and others are those that go on to a series of all-time highs. These traders tended to buy when a stock hit an ATH, consolidated, and then broke out to a new ATH. That is the idea behind my green line breakout - [Blog Post: Day 12 of $QQQ short term up-trend; $MSFT and $DUOL hold GLBs to ATHs, see daily charts](https://wishingwealthblog.com/2023/11/blog-post-day-12-of-qqq-short-term-up-trend-msft-and-duol-hold-glbs-to-aths-see-daily-charts/) - GLB= green line breakout= a stock reached an ATH, rested at least 3 months, and then traded at a new ATH. - [Blog Post: Day 11 of $QQQ short term up-trend; 5 stocks that reached an ATH on Friday and passed the Weekly Green Bar setup: $ACLX, $APG, $MMYT, $QLYS, $ENSG](https://wishingwealthblog.com/2023/11/blog-post-day-11-of-qqq-short-term-up-trend-5-stocks-that-reached-an-ath-on-friday-and-passed-the-weekly-green-bar-setup-aclx-apg-mmyt-qlys-ensg/) - The GMI remains Green. - [Blog Post: Day 10 of $QQQ short term up-trend; 10:30 weekly chart shows that $QQQ remains in a Stage 2 up-trend after a brief head fake, see chart and a confession](https://wishingwealthblog.com/2023/11/blog-post-day-10-of-qqq-short-term-up-trend-1030-weekly-chart-shows-that-qqq-remains-in-a-stage-2-up-trend-after-a-brief-head-fake-see-chart-and-a-confession/) - QQQ dipped below the 30 week average and then climbed back above it and the 10 week average (dotted line). I got scared out, instead of waiting for the 30 week average to curve down. That is the signal I waited for before successfully exiting at the beginning of large declines. Nearing retirement, I get - [Blog Post: Day 9 of $QQQ short term up-trend; GMI=6 and turns Green! 8 growth stocks at ATH and weekly green bar, see list and setup criteria](https://wishingwealthblog.com/2023/11/blog-post-day-9-of-qqq-short-term-up-trend-gmi6-and-turns-green-6-growth-stocks-at-ath-and-weekly-green-bar-see-list-and-setup-criteria/) - These stocks hit an ATH on Wednesday and met my criteria for a weekly green bar. They all bounced off of their rising 4 wk average and 4w>10wk>30 wk and reached a 20 week high on relative strength vs. SPY. If I bought this setup, my exit would be just below this week's low. These - [Blog Post: Day 8 of $QQQ short term up-trend; 190 US new highs and 6 lows; GMI=4 and could turn Green on Wednesday; $MSFT holds GLB, see daily chart; GLB table to be fixed soon, but look how much they have climbed](https://wishingwealthblog.com/2023/11/blog-post-day-8-of-qqq-short-term-up-trend-190-us-new-highs-and-6-lows-gmi4-and-could-turn-green-on-wednesday-msft-holds-glb-see-daily-chart-glb-table-to-be-fixed-soon-but-look-how-much-they/) - [Blog Post: Day 6 of $QQQ short term up-trend; 87 US new highs and 95 lows, but 43 at ATH, the most since September 1; 4 IPOs since 2019 reached an ATH, see list and weekly chart of $DUOL](https://wishingwealthblog.com/2023/11/blog-post-day-6-of-qqq-short-term-up-trend-87-us-new-highs-and-95-lows-but-43-at-ath-the-most-since-september-1-4-ipos-since-2019-reached-an-ath-see-list-and-weekly-chart-of-duol/) - William O'Neil has said that stocks that have gone public in the recent past and that are reaching new highs may be worth noting. As a recent IPO climbs there are many funds that will need to buy it. The following four stocks had an IPO since 2019 and reached an ATH on Friday. DUOL - [Blog Post: Day 5 of $QQQ short term up-trend; 67 US new highs and 90 lows; Recent GLB, $PGR at ATH, see daily chart](https://wishingwealthblog.com/2023/11/blog-post-day-5-of-qqq-short-term-up-trend-67-us-new-highs-and-90-lows-recent-glb-pgr-at-ath-see-daily-chart/) - [Blog Post: Day 4 of $QQQ short term up-trend; 60 US new highs and 57 lows; 16 growth stocks at ATH, see list and my GLB performance table](https://wishingwealthblog.com/2023/11/blog-post-day-4-of-qqq-short-term-up-trend-60-us-new-highs-and-57-lows-16-growth-stocks-at-ath-see-list-and-my-glb-performance-table/) - Stocks on my IBD/MS watchlists, sorted by today's close/minlow last 250 days. - [Blog Post: Day 3 of $QQQ short term up-trend; 52 US new highs and 35 lows; $QQQ closed above its descending trend line, will it hold? Recent IPO $SKWD gaps up to ATH, see charts](https://wishingwealthblog.com/2023/11/blog-post-day-3-of-qqq-short-term-up-trend-52-us-new-highs-and-35-lows-qqq-closed-above-its-descending-trend-line-will-it-hold-recent-ipo-skwd-gaps-up-to-ath-see-charts/) - I tweeted out intraday Tuesday when SKWD gapped up to an ATH after releasing earnings. You might follow my tweets, @WishingWealth. Note the volume, which was reflected in TC2000 by the volume buzz. The monthly chart shows that it was a recent IPO. It has not consolidated long enough to form a green line top. - [Blog Post: Day 2 of $QQQ short term up-trend, but GMI still RED; $QQQ up against its descending trend line, see daily chart](https://wishingwealthblog.com/2023/11/blog-post-day-2-of-qqq-short-term-up-trend-but-gmi-still-red-qqq-up-against-its-descending-trend-line-see-daily-chart/) - [Blog Post: Day 1 of new $QQQ short term up-trend; GMI=4 and could turn Green on Monday; 103 US stocks at new highs and 19 at lows; Focusing on stocks at ATH, see list of 6 with a GLB on Friday](https://wishingwealthblog.com/2023/11/blog-post-day-1-of-new-qqq-short-term-up-trend-gmi4-and-could-turn-green-on-monday-103-us-stocks-at-new-highs-and-19-at-lows-focusing-on-stocks-at-ath-see-list-of-6-with-a-glb-on-friday/) - These six stocks on my IBD/MS lists had a green line break-out (GLB) to an ATH on Friday and should be researched. Stocks that have a GLB early in an up-trend may turn out to be true market leaders. The GMI is now at 4 (of 6) and could turn Green on Monday. QQQ and - [Blog Post: 11th day of $QQQ short term down-trend, could end Friday; 75 US new highs and 64 lows, see list of 11 at ATH](https://wishingwealthblog.com/2023/11/blog-post-11th-day-of-qqq-short-term-down-trend-could-end-friday-75-us-new-highs-and-64-lows-see-list-of-11-at-ath/) - 11 growth stocks at ATH, sorted by last column, close/minimum price last 250 days. - [Blog Post: Day 10 of $QQQ short term down-trend; IBD calls Market in Confirmed Uptrend; We shall see, only 33 US new highs and 153 lows on Wednesday; $QQQ retakes 30 week average, see chart, but will it hold, $AAPL earnings on deck](https://wishingwealthblog.com/2023/11/blog-post-day-10-of-qqq-short-term-down-trend-ibd-calls-market-in-confirmed-uptrend-we-shall-see-only-33-us-new-highs-and-153-lows-on-wednesday-qqq-retakes-30-week-average-see-chart-but-will/) - [Blog Post: Day 9 of $QQQ short term down-trend; 18 US new highs and 112 lows; $QQQ up against resistance; in treasury bills, $TBIL, and money market funds earning 5%+](https://wishingwealthblog.com/2023/10/blog-post-day-9-of-qqq-short-term-down-trend-18-us-new-highs-and-112-lows-qqq-up-against-resistance-in-treasury-bills-tbil-and-money-market-funds-earning-5/) - It remains to be seen whether QQQ can close back above the declining trend channel line. Prior support becomes resistance. - [Blog Post: 20 US new highs and 295 lows and 20 at ATH; Time to be on the sidelines; Boomers can earn 5%+ without the risk of owning stocks; I opine about a difficult future](https://wishingwealthblog.com/2023/10/blog-post-20-us-new-highs-and-295-lows-and-20-at-ath-time-to-be-on-the-sidelines-boomers-can-earn-5-without-the-risk-of-owning-stocks-i-opine-about-a-difficult-future/) - I am VERY concerned about what my indicators are telling me. The GMI=0 now that QQQ has closed below its 30 week average (see chart below), as have 3 of the "Magnificent 7" that have held the indexes up this year: AAPL, GOOGL and TSLA have faltered. I remember the nifty 50 large cap stocks - [Day 6 of $QQQ short term down-trend; Weekly charts show $QQQ and $SPY back below their 30 week averages; going to cash](https://wishingwealthblog.com/2023/10/day-6-of-qqq-short-term-down-trend-weekly-charts-show-qqq-and-spy-back-below-their-30-week-averages-going-to-cash/) - My trading IRA has been in money market funds and $TBIL for a while. However, today I transferred most of my university pension funds out of mutual funds and back into money market funds paying near 5%. I am content to get that type of return until the market gets healthy. It never is good - [Blog Post: 316 US new lows, GMI=0, support line fails, see chart; Stage 4 decline on deck? Cash is king](https://wishingwealthblog.com/2023/10/blog-post-316-us-new-lows-gmi0-support-line-fails-see-chart-stage-4-decline-on-deck-cash-is-king/) - QQQ closed below its trend channel line of support on above average volume. QQQ has also closed below its key 30 week average, turning GMI to 0. This could be the beginning of a major Stage 4 decline. Look out below.... - [Blog Post: Day 4 of $QQQ short term down-trend; Biotech $SGEN one of a few stocks reaching an ATH and after a recent GLB, see daily chart](https://wishingwealthblog.com/2023/10/blog-post-day-4-of-qqq-short-term-down-trend-biotech-sgen-one-of-a-few-stocks-reaching-an-ath-and-after-a-recent-glb-see-daily-chart/) - Good recent results with a drug regimen for treating bladder cancer. - [Blog Post: 312 new US lows, most since 334 on March 20; IBD called Market in Correction yesterday; Daily chart shows $QQQ bounced right where the TCL predicted--but will it hold?](https://wishingwealthblog.com/2023/10/blog-post-312-new-us-lows-most-since-334-on-march-20-ibd-called-market-in-correction-yesterday-daily-chart-shows-qqq-bounced-right-where-the-tcl-predicted-but-will-it-hold/) - The trend channel line (TCL) in the daily chart below predicted Monday's bounce. QQQ also bounced up off of the 15.2 lower Bollinger Band, designated by the green daily bar. The next rally could take it to the descending trend line. The TCL must hold, or look out below...... - [Blog Post: Day 2 of $QQQ short term down-trend; 6 US new highs and 212 lows; 10:30 weekly chart shows QQQ resting on its 30 week average; Stage 4 imminent?](https://wishingwealthblog.com/2023/10/blog-post-day-2-of-qqq-short-term-down-trend-6-us-new-highs-and-212-lows-1030-weekly-chart-shows-qqq-resting-on-its-30-week-average-stage-4-imminent/) - QQQ is getting very close to a Stage 4 decline. The weekly close (gray line) is just above the 30 week average (red line). Time to be very defensive. If 10 week average (dotted line) closes below the 30 week average I will likely move my university retirement funds out of mutual funds and into - [Blog Post: Day 1 of new $QQQ short term down-trend; 29 US new highs and 180 lows; 20+ year treasury bonds, $TLT, continue to crumble as rates rise, see chart, time to go fishing...](https://wishingwealthblog.com/2023/10/blog-post-day-1-of-new-qqq-short-term-down-trend-29-us-new-highs-and-180-lows-30-year-treasury-bonds-tlt-continue-to-crumble-as-rates-rise-see-chart-time-to-go-fishing/) - The market cannot compete with high interest rates. Investors abandon stocks and hide in safer government debt or high yield savings accounts earning 5% or more. Only 6 stocks hit an ATH on Thursday. This is not the time to buy and hold stocks at new highs. Breakouts are failing. Jesse Livermore would go fishing - [Blog Post: Day 6 of $QQQ short term up-trend, but may end Thursday; GMI=2; 46 US highs and 116 lows; Put/call ratio reaches 1.2 so a bounce is possible but many break-outs are failing](https://wishingwealthblog.com/2023/10/blog-post-day-6-of-qqq-short-term-up-trend-but-may-end-thursday-gmi2-46-us-highs-and-116-lows-put-call-ratio-reaches-1-2-so-a-bounce-is-possible-but-many-break-outs-are-failing/) - Very important to see whether QQQ falls all the way back to the trend channel support line. Cash is king. - [Blog Post: Day 5 of $QQQ short term up-trend; 81 US new highs and 42 lows; see list of 17 growth stocks at ATHs](https://wishingwealthblog.com/2023/10/blog-post-day-5-of-qqq-short-term-up-trend-81-us-new-highs-and-42-lows-see-list-of-17-growth-stocks-at-aths/) - Stocks on my recent IBD/MS lists, sorted by close/lowest price last 250 days. - [Blog Post: Day 4 of $QQQ short term up-trend; GMI rises to 4; 58 new US highs and 51 lows; 14 stocks at ATH, see list](https://wishingwealthblog.com/2023/10/blog-post-day-4-of-qqq-short-term-up-trend-gmi-rises-to-4-58-new-us-highs-and-51-lows-14-stocks-at-ath-see-list/) - Sorted by close/250 day low. - [Blog Post: Day 3 of $QQQ short term up-trend, it could end on Monday; but the 10:30 weekly chart shows a continuing longer term Stage 2 up-trend; time will tell](https://wishingwealthblog.com/2023/10/blog-post-day-3-of-qqq-short-term-up-trend-it-could-end-on-monday-but-the-1030-weekly-chart-shows-a-continuing-longer-term-stage-2-up-trend-time-will-tell/) - QQQ looks like it hit a stone wall at the descending trend line on the daily chart. However, the 10:30 weekly chart is still in a longer term Stage 2 up-trend. Stay tuned..... The GMI is at 2 (of 6) and on a Red signal. - [Blog Post: Day 2 of $QQQ short term up-trend; 68 US new highs and 162 lows; $QQQ stops right at declining trend line, see daily chart, will it break through?](https://wishingwealthblog.com/2023/10/blog-post-day-2-of-qqq-short-term-up-trend-68-us-new-highs-and-162-lows-qqq-stops-right-at-declining-trend-line-see-daily-chart-will-it-break-through/) - Remember, I am more confident of a change in my $QQQ short term trend indicator when it reaches Day 5. We must be nimble. - [Blog Post: Day 1 of new $QQQ short term up-trend; Slowly accumulating $TQQQ; 23 stocks at ATH, see list](https://wishingwealthblog.com/2023/10/blog-post-day-1-of-new-qqq-short-term-up-trend-slowly-accumulating-tqqq-23-stocks-at-ath-see-list/) - At the beginning of a new short term up-trend, it is time to look for the winners who quickly emerge to new highs. These stocks from my IBD/MS watchlist reached an ATH (all-time high) on Wednesday. They are sorted by current price/lowest price last 250 days. Note that the 2 companies with the popular weight - [Blog Post: Day 14 of $QQQ short term down-trend; The unexpected advance after a troubling world event suggests this market will go higher; See list of 17 stocks with a weekly green bar](https://wishingwealthblog.com/2023/10/blog-post-day-14-of-qqq-short-term-down-trend-the-unexpected-advance-after-a-troubling-world-event-suggests-this-market-will-go-higher-see-list-of-17-stocks-with-a-weekly-green-bar/) - [Blog Post: Day 13 of $QQQ short term down-trend; IBD calls market back in confirmed up-trend after follow through day; My 10:30 weekly charts show $QQQ and $SPY still in Stage 2 up-trends, see charts and list of 21 stocks with weekly green bar](https://wishingwealthblog.com/2023/10/blog-post-day-13-of-qqq-short-term-down-trend-ibd-calls-market-back-in-confirmed-up-trend-after-follow-through-day-my-1030-weekly-charts-show-qqq-and-spy-still-in-stage-2-up-trends-see-charts/) - Note that the 10 week average remains above the 30 week average. I am looking for this ETF to climb back above its 10 week average and for that average to turn up. For now, I remain partially invested in growth mutual funds in my university pension accounts. The gray line tracks the weekly closes. - [Blog Post: Day 12 of $QQQ short term down-trend; 29 US new highs and 167 lows; $QQQ is finding support right at its trend channel line (TCL, thanks to @TCLTRader), see daily chart](https://wishingwealthblog.com/2023/10/blog-post-day-12-of-qqq-short-term-down-trend-29-us-new-highs-and-167-lows-qqq-is-finding-support-right-at-its-trend-channel-line-tcl-thanks-to-tcltrader-see-daily-chart/) - Vas, from @TCLTrader, comes to my class each year to teach his technical analysis based on the works of Al Brooks. Vas draws trend channel lines, TCLs, below a down-trend as I have drawn in the daily chart below. It is amazing how some TCLs predict in advance exactly where support or resistance occurs. You - [Blog Post: Day 11 of $QQQ short term down-trend; Put/call ratio=1.31 and T2108 hit 12.6 daily low--tradable oversold bounce likely as earnings are released next week; see also my list of 6 stocks hitting an ATH on Wednesday and weekly chart of $SKWD](https://wishingwealthblog.com/2023/10/blog-post-day-11-of-qqq-short-term-down-trend-put-call-ratio1-31-and-t2108-hit-12-6-daily-low-tradable-oversold-bounce-likely-as-earnings-are-released-next-week-see-also-my-list-of-6-stocks-hit/) - The unusually high put/call ratio, the low T2108 value, plus the fact that earnings are coming next week suggest to me that we are about to experience a meaningful bounce. 89% of the Nasdaq 100 stocks rose on Wednesday, the highest percentage since August 29 (91%). These 6 stocks on my IBD/MS recent watchlist hit - [Blog Post: Day 10 of $QQQ short term down-trend; 12 new US highs and 303 lows; T2108=16%, put/call ratio=1.08; Bonds are collapsing, see daily chart of $IEF; cash is king](https://wishingwealthblog.com/2023/10/blog-post-day-10-of-qqq-short-term-down-trend-12-new-us-highs-and-303-lows-t210816-put-call-ratio1-08-bonds-are-collapsing-see-daily-chart-of-ief-cash-is-king/) - [Blog Post: Day 8 of $QQQ short term down-trend; 38 new US highs and 65 lows; $QQQ remains in a longer term Stage 2 up-trend, but not $DIA and maybe not $SPY; With GMI=1 and Red, it is time to be very defensive and maybe in a little $SQQQ, see daily charts of QQQ and SQQQ, but will last week's bounce hold?](https://wishingwealthblog.com/2023/10/blog-post-day-8-of-qqq-short-term-down-trend-38-new-us-highs-and-65-lows-qqq-remains-in-a-longer-term-stage-2-up-trend-but-not-dia-and-maybe-not-spy-with-gmi1-and-red-it-is-time-to-be-very/) - QQQ remains in a short term down-trend. One way to play this is to own a little SQQQ, a 3x leveraged bearish ETF, that rises when QQQ falls. But we need to be nimble because many down markets have ended in October. As the Sell in May saying says, return on Halloween. Let's see first - [Blog Post: Day 7 of $QQQ short term down-trend; 52 US new highs and 142 lows; 10 stocks at ATH, including 3 coal stocks, see list and analysis of $CEIX](https://wishingwealthblog.com/2023/09/blog-post-day-7-of-qqq-short-term-down-trend-52-us-new-highs-and-142-lows-10-stocks-at-ath-including-3-coal-stocks-see-list-and-analysis-of-ceix/) - Again, 3 of them, CEIX, AMR and HCC, are in the coal industry. List is sorted by current close/lowest price past 250 days. VIST is 3.4x its yearly low. I want my students to study this weekly chart of CEIX. On September 1, my guest speaker and former student, Richard Moglen, suggested this stock - [Blog Post: Day 6 of $QQQ short term down-trend; 81 US new highs and 187 lows; 6 of the 9 stocks at ATHs were in oil and gas or coal; what does that tell us? Coal is hot! See list of 9.](https://wishingwealthblog.com/2023/09/blog-post-day-6-of-qqq-short-term-down-trend-81-us-new-highs-and-187-lows-6-of-the-9-stocks-at-aths-were-in-oil-and-gas-or-coal-what-does-that-tell-us-coal-is-hot-see-list-of-9/) - It is pretty persuasive when many of the stocks doing well come from the same industry. Here is the list of 9, sorted by Wednesday's close/lowest price the past year. Two of them ( APOS and AESI) are IPOs within the past year and have a "..." result. Coal is hot! Even XOM made the - [Blog Post: Day 5 of $QQQ short term down-trend; 30 US new highs and 183 lows, 7 US stocks at ATHs; see list and daily chart of $SGEN](https://wishingwealthblog.com/2023/09/blog-post-day-5-of-qqq-short-term-down-trend-30-us-new-highs-and-183-lows-7-us-stocks-at-aths-see-list-and-daily-chart-of-sgen/) - When all looks weak, it is easier to see the potential new leaders because they show up on the all-time high (ATH) list. When the market turns up, some may take off. One of them, SGEN, has a recent GLB and volume spikes on up days (black bars). It is worth researching. It is a - [Blog Post: Day 3 of $QQQ short term down-trend and GMI=1 (of 6) and Red; Put/call ratio rises to 1.09, indicating fear is rising, what would my trading gurus say?](https://wishingwealthblog.com/2023/09/blog-post-day-3-of-qqq-short-term-sown-trend-and-gmi1-of-6-and-red-put-call-ratio-rises-to-1-09-indicating-fear-is-rising-what-would-my-trading-gurus-say/) - Jesse Livermore might say, time to go fishing..... Darvas would call it a market for the birds. O'Neil would stay away, as I suspect would Minervini. And the perspicacious and man of few tweets, David Ryan, said on August 24: - [Blog Post: Day 2 of $QQQ short term down-trend; 23 US new highs and 157 lows, most since May 2nd; long treasury bonds in steep decline as interest rates climb, see $TLT; why interest rates move inversely to bonds prices explained](https://wishingwealthblog.com/2023/09/blog-post-day-2-of-qqq-short-term-down-trend-23-us-new-highs-and-157-lows-most-since-may-2nd-long-treasury-bonds-in-steep-decline-as-interest-rates-climb-see-tlt-why-interest-rates-move-invers/) - The Wall Street saying is that interest rates move inversely to bond prices. This is like when a stock price declines the dividend yield rises. For example, a stock that pays $4 per year would have a yield =4%%, if the stock's price were $100 (4/100=4%). If the dividend remains the same and the stock - [Blog Post: Day 1 of new $QQQ short term down-trend; IBD calls Market in Correction; 63 US new highs and 63 lows; cash is king, hiding in $TBIL, see its bizarre daily chart](https://wishingwealthblog.com/2023/09/blog-post-day-1-of-new-qqq-short-term-down-trend-ibd-calls-market-in-correction-63-us-new-highs-and-63-lows-cash-is-king-hiding-in-tbil-see-its-bizarre-daily-chart/) - I am concerned that the put/call ratio is only .91. There is not enough fear in this market to turn it around. The chart of QQQ is looking ominous. Short term support has not held. I am mainly in cash with some $TBIL in my trading account. TBIL is an ETF that invests in short - [Blog Post: Day 14 of $QQQ short term up-trend, could end Wednesday; 52 new US highs and 69 lows, 14 at ATH; on Fed watch Wednesday; $ERIE at ATH after a GLB, see daily chart and the weekly flag pattern](https://wishingwealthblog.com/2023/09/blog-post-day-14-of-qqq-short-term-up-trend-could-end-wednesday-52-new-us-highs-and-69-lows-14-at-ath-on-fed-watch-wednesday-erie-at-ath-after-a-glb-see-daily-chart-and-the-weekly-flag-patter/) - ERIE reached an ATH on Tuesday. It has a very nice technical pattern, having gapped higher in early August and then consolidating sideways for 5 weeks. In early August, ERIE was added to the S&P MidCap 400. If the market holds on Tuesday, ERIE could rocket higher. It must not close back below its green - [Blog Post: Day 13 of $QQQ short term up-trend but GMI turns Red; 57 US new highs and 72 lows; End of quarter bounce still possible; 2 of my indicators suggest a bounce is imminent, see chart](https://wishingwealthblog.com/2023/09/blog-post-day-13-of-qqq-short-term-up-trend-but-gmi-turns-red-57-us-new-highs-and-72-lows-end-of-quarter-bounce-still-possible-2-of-my-indicators-suggest-a-bounce-is-imminent-see-chart/) - QQQ is up against a rising 15.2 lower daily Bollinger band and my stochastics indicator is very oversold too (not shown). These indicators suggest to me a bounce is imminent. Also, the fact that the QQQ short term up-trend is still intact also leads me to believe a bounce is coming. Of course, these indicators - [Blog Post: Day 12 of $QQQ short term up-trend, but the GMI=2 and could flash Red on Monday; Fed on deck and then end of quarter](https://wishingwealthblog.com/2023/09/blog-post-day-12-of-qqq-short-term-up-trend-but-the-gmi2-and-could-flash-red-on-monday-fed-on-deck-and-then-end-of-quarter/) - I am quite defensive now given last week's action. We need to see what the Fed does this week. This is not the time for me to take on large positions on the long side. A good Fed announcement could lead to a strong close of the third quarter. - [Blog Post: Day 11 of $QQQ short term up-trend; 62 US new highs and 38 lows; End of quarter window dressing could help strong stocks rise; 11 stocks on my growth list hit an ATH on Thursday, see list and weekly chart of $CEIX](https://wishingwealthblog.com/2023/09/blog-post-day-11-of-qqq-short-term-up-trend-62-us-new-highs-and-38-lows-end-of-quarter-window-dressing-could-help-strong-stocks-rise-11-stocks-on-my-growth-list-hit-an-ath-on-thursday-see-list-a/) - These stocks are on my watchlist of stocks recently on IBD or Market Smith lists, that hit an ATH on Thursday. They are sorted by c/lowest price last 250 days. CEIX and FIX are 2x their yearly lows. BAM is a recent IPO and traded above its green line but did not close above it - [Blog Post: Day 10 of $QQQ short term up-trend; 42 US new highs and 63 lows; $VRT has OSB (oversold bounce) and a recent GLB, and great MarketSmith statistics, see daily and monthly charts](https://wishingwealthblog.com/2023/09/blog-post-day-10-of-qqq-short-term-up-trend-42-us-new-highs-and-63-lows-vrt-has-osb-oversold-bounce-and-a-recent-glb-and-great-marketsmith-statistics-see-daily-and-monthly-charts/) - VRT came up on my oversold-bounce scan, note the black dot. VRT had a green line break-out to an ATH on August 2nd with volume way above average, after reporting earnings. MarketSmith reports 2023 earnings are expected to rise +203%, Comp rating=98 and RS=99. On Wednesday, VRT bounced from oversold. If it holds Wednesday's low - [Blog Post: Day 9 of $QQQ short term up-trend; 71 US new highs and 65 lows; $ORCL disappoints and current market is not forgiving, down 13.5%, see daily chart; holding through earnings is risky](https://wishingwealthblog.com/2023/09/blog-post-day-9-of-qqq-short-term-up-trend-71-us-new-highs-and-65-lows-orcl-disappoints-and-current-market-is-not-forgiving-down-13-5-see-daily-chart-holding-through-earnings-is-risky/) - [Blog Post: Day 8 of $QQQ short term up-trend; 80 US new highs and 57 lows; $QQQ in daily RWB up-trend, see adapted daily GMMA chart](https://wishingwealthblog.com/2023/09/blog-post-day-8-of-qqq-short-term-up-trend-80-us-new-highs-and-57-lows-qqq-in-daily-rwb-up-trend-see-adapted-daily-gmma-chart/) - [Blog Post: Day 7 of $QQQ short term up-trend; 69 US new highs and 81 lows; $SPY is back below its 10 week average and $QQQ is just above its; Big week for $ORCL coming up, see weekly chart](https://wishingwealthblog.com/2023/09/blog-post-day-7-of-qqq-short-term-up-trend-69-us-new-highs-and-81-lows-spy-is-back-below-its-10-week-average-and-qqq-is-just-above-its-big-week-for-orcl-coming-up-see-weekly-chart/) - ORCL had a GLB (green line break-out) to an ATH (all-time high) in June on above average volume. It has then consolidated for 12 weeks. On Monday it will report earnings and a rise above 127.54 with above average volume to an ATH would be worth monitoring. ORCL has already doubled its yearly low and - [Blog Post: Day 6 of $QQQ short term up-trend; 52 US new highs and 106 lows; 2 companies with weight loss drugs hit ATHs again, $LLY, $NVO, see daily charts](https://wishingwealthblog.com/2023/09/blog-post-day-6-of-qqq-short-term-up-trend-52-us-new-highs-and-106-lows-2-companies-with-weight-loss-drugs-hit-aths-again-lly-nvo-see-daily-charts/) - If their drugs continue to help people to lose weight, LLY and NVO could continue to gain. The risk is that any finding suggesting that these drugs designed for diabetes turn out to produce other harms could rapidly deflate these shares. For now, it is onward and upward for LLY and NVO. Note the GLB - [Blog Post: Day 5 of $QQQ short term up-trend; 45 US new highs and 85 lows, 15 at ATH; $IOT is holding Tuesday's GLB, see daily and monthly charts](https://wishingwealthblog.com/2023/09/blog-post-day-5-of-qqq-short-term-up-trend-45-us-new-highs-and-85-lows-15-at-ath-iot-is-holding-tuesdays-glb-see-daily-and-monthly-charts/) - IOT had a GLB (green line break-out) to an ATH on Tuesday on above average volume. Will it hold in a weak market? It has a MarketSmith Comp rating=96 and RS=98. IOT is just starting to earn a profit. If it closes below the green line at 31.41 it would be a failed GLB and - [Blog Post: Day 3 of $QQQ short term up-trend; 166 new US highs, 33 lows and 59 at ATH; my 10:30 weekly charts of $QQQ and $SPY show continuing Stage 2 up-trends](https://wishingwealthblog.com/2023/09/blog-post-day-3-of-qqq-short-term-up-trend-166-new-us-highs-33-lows-and-59-at-ath-my-1030-weekly-charts-of-qqq-and-spy-show-continuing-stage-2-up-trends/) - Many fear a weak September, especially with a government shut-down on the horizon. But the market may defy all and rise anyway. The QQQ short term trend count is now up and the longer term GMI is Green, see the GMI table below. I bought a little TQQQ last week and will add more if - [Blog Post: Day 2 of $QQQ short term up-trend; GMI turns Green; 122 US new highs and 22 lows, 47 at ATH; see list of 10 growth stock doublers at ATH; $ELF rockets higher again, see monthly chart](https://wishingwealthblog.com/2023/08/blog-post-day-2-of-qqq-short-term-up-trend-gmi-turns-green-122-us-new-highs-and-22-lows-47-at-ath-see-list-of-10-growth-stock-doublers-at-ath-elf-rockets-higher-again-see-monthly-chart/) - Stocks are sorted by close/minimum price last 250 days. For example, VRT is 4.2x its yearly low price. If the market holds, some of these stocks may turn out to be true market leaders. ELF does it again, see monthly chart. Note GLB.(green line break-out)in July, 2022. - [Blog Post: Day 1 of new $QQQ short term up-trend, GMI=6 (of 6), could flash Green Friday; 123 US new highs and 12 lows; $QQQ retakes 4wk and 10 wk averages, see weekly chart](https://wishingwealthblog.com/2023/08/blog-post-day-1-of-new-qqq-short-term-up-trend-gmi6-of-6-could-flash-green-friday-123-us-new-highs-and-12-lows-qqq-retakes-4wk-and-10-wk-averages-see-weekly-chart/) - [Blog Post: Day 15 of $QQQ short term down-trend, it may end Wednesday; IBD calls Market in Confirmed Up-trend after follow through day](https://wishingwealthblog.com/2023/08/blog-post-day-15-of-qqq-short-term-down-trend-it-may-end-wednesday-ibd-calls-market-in-confirmed-up-trend-after-follow-through-day/) - Just when so many pundits thought tech stocks were finished, the market may have proved them wrong. QQQ retakes 30 day average. (also 4week and 10 week, not shown) - [Blog Post: Day 13 of $QQQ short term down-trend; 36 US new highs and 43 lows; time to be in cash or short $QQQ in my trading account by buying $SQQQ or a deep in the money put option, see example](https://wishingwealthblog.com/2023/08/blog-post-day-13-of-qqq-short-term-down-trend-36-us-new-highs-and-43-lows-time-to-be-in-cash-or-short-qqq-in-my-trading-account-by-buying-sqqq-or-a-deep-in-the-money-put-option-see-example/) - QQQ's 4wk average is now below its 10 week average, a sign of technical weakness. Failure to retake the 4 wk average (red dotted line) this week would suggest to me at least a decline to the 30 week average (red solid line at $337). The weak month of September is on tap and the - [Blog Post: Day 12 of $QQQ short term down-trend; 51 US new highs and 58 lows; $QQQ stalls at 30 day average and declines on higher volume](https://wishingwealthblog.com/2023/08/blog-post-day-12-of-qqq-short-term-down-trend-51-us-new-highs-and-58-lows-qqq-stalls-at-30-day-average-and-declines-on-higher-volume/) - 30 day average is solid red line. QQQ has advanced on only 3 of last 10 days. Hiding in cash and SQQQ, which rose +6.7% on Thursday. On to the Fed speech on Friday. - [Blog Post: Day 8 of $QQQ short term down-trend; $QQQ,$SPY,$DIA,$IWM closed below all 12 averages in my adapted daily Guppy charts, see chart of $QQQ; "Come back at Halloween" but I do own some $ACHR](https://wishingwealthblog.com/2023/08/blog-post-day-8-of-qqq-short-term-down-trend-qqqspydiaiwm-closed-below-all-12-averages-in-my-adapted-daily-guppy-charts-see-chart-of-qqq-come-back-at-halloween-but-i-do-own-some-achr/) - My modified daily Guppy charts show that the RWB up-trends are over and with the major indexes closing below (dotted line) all 12 averages, it is possible we will see BWR down-trends (shorter term red lines declining below blue lines with a white space between them). The key in technical analysis is to be prepared - [Blog Post: Day 7 of $QQQ short term down-trend; 27 US new highs and 75 lows; IBD calls "Market in Correction" ; Cash is king](https://wishingwealthblog.com/2023/08/blog-post-day-7-of-qqq-short-term-down-trend-27-us-new-highs-and-75-lows-ibd-calls-market-in-correction-cash-is-king/) - Time to be in cash or in SQQQ. "Sell in May and go away; come back at Halloween." A bottom may have to wait until after the September Fed meeting and 3rd quarter earnings are being released in October. Protecting one's capital is the name of the game right now. The short term trend is - [Blog Post: Day 6 of $QQQ short term down-trend; 54 US new highs and 78 lows; Collapse of 20+ yr treasury bonds, shown by $TLT, continues](https://wishingwealthblog.com/2023/08/blog-post-day-6-of-qqq-short-term-down-trend-54-us-new-highs-and-78-lows-collapse-of-20-yr-treasury-bonds-shown-by-tlt-continues/) - Interest rates continue to rise as evidenced by declining long bonds. The resulting higher rates suck $$$ out of tech stocks and the QQQ. I continue to hide in cash and some SQQQ, which rose 3.3% on Wednesday. See the daily charts of TLT and SQQQ. - [Blog Post: Day 5 of $QQQ short term down-trend; More US new lows than highs--75 lows and 68 highs; In cash or $SQQQ in my trading account; Daily RWB up-trend is over, see my adapted Guppy chart](https://wishingwealthblog.com/2023/08/blog-post-day-5-of-qqq-short-term-down-trend-more-us-new-lows-than-highs-75-lows-and-68-highs-in-cash-or-sqqq-in-my-trading-account-daily-rwb-up-trend-is-over-see-my-adapted-guppy-chart/) - The white space between the red shorter averages and the blue longer term averages is gone. The RWB up-trend is over. Will it turn into a BWR down-trend? Note that during an RWB up-trend the closing daily prices (dotted line) tend to be above all of the averages. It is almost below all of the - [Blog Post: Day 3 of new $QQQ short term down-trend and the GMI turns RED; the 10:30 weekly chart shows the long term trend for $QQQ remains intact](https://wishingwealthblog.com/2023/08/blog-post-day-3-of-new-qqq-short-term-down-trend-and-the-gmi-turns-red-the-1030-weekly-chart-shows-the-long-term-trend-for-qqq-remains-intact/) - I am on the defense in my trading account. I hold some SQQQ, a 3X leveraged ETF which is designed to rise three times as much as QQQ falls. It is the opposite of TQQQ which rises three times as much as QQQ rises. I noted last post that in the past few years 40% - [Blog Post: Day 1 of new $QQQ short term down-trend and GMI=3. Many fallen angels, $SMCI, $AAPL, $CMG; Buying $SQQQ now; Buying $TQQQ on Day 1 of the recent $QQQ short term up-trend would have produced +40% and beaten almost all individual stocks....](https://wishingwealthblog.com/2023/08/blog-post-day-1-of-new-qqq-short-term-down-trend-and-gmi3-many-fallen-angels-smci-aapl-cmg-buying-sqqq-now-buying-tqqq-on-day-1-of-the-recent-qqq-short-term-up-trend-would-have-produced/) - Many darling stocks have hit air pockets, SMCI, CMG, AAPL to name a few, see weekly chart. And NVDA has closed below its 10 week average for the first time since January 6, see weekly chart below. Sell-offs are happening even after earnings beats. And we are entering the weak post earnings release period. Many - [Blog Post: Day 70 of $QQQ short term up-trend, it could end on Wednesday; 91 US new highs and 68 lows; Two stocks had high volume GLBs: $CEIX and $IHG, see daily and monthly charts](https://wishingwealthblog.com/2023/08/blog-post-day-70-of-qqq-short-term-up-trend-it-could-end-on-wednesday-91-us-new-highs-and-68-lows-two-stocks-had-high-volume-glbs-ceix-and-ihg-see-daily-and-monthly-charts/) - Even as many stocks are weakening many stocks hit ATHs (all-time-highs) on Tuesday and these 2 had a GLB (green line break-out) into new high ground after consolidating for at least 3 months. Note the above average volume. Each reported earnings on Tuesday. They are worth investigating. A close below the green line would be - [Blog post: Day 69 of $QQQ short term up-trend; $QQQ short term up-trend stays alive, for now, but see lower daily volume.](https://wishingwealthblog.com/2023/08/blog-post-day-69-of-qqq-short-term-up-trend-qqq-short-term-up-trend-stays-alive-for-now-but-see-lower-daily-volume/) - There are a lot more spikes in volume on down days (red), not what I would like to see. A lot of news yet to come this week. - [Blog Post: Day 68 of $QQQ short term up-trend, it may end Monday; 136 US new highs and 37 lows; GMI declines to 4 but 10:30 weekly chart of QQQ is still in a strong up-trend, but $AAPL has a failed GLB](https://wishingwealthblog.com/2023/08/blog-post-day-68-of-qqq-short-term-up-trend-it-may-end-monday-136-us-new-highs-and-37-lows-gmi-declines-to-4-but-1030-weekly-chart-of-qqq-is-still-in-a-strong-up-trend-but-aapl-has-a-failed-gl/) - Another flat or down day for QQQ on Monday will end the QQQ short term up-trend after 68 days. But about 40% of QQQ short term down trends end in 5 days or less and QQQ's longer term trend remains up. This 10:30 weekly chart shows that QQQ is in a strong longer term up-trend - [Blog Post: Day 67 of $QQQ short term up-trend; 115 new US highs and 44 lows; 11 stocks have OSB after recent ATH, see list, which includes $NVDA and its chart, see also recent OSB, $AMPH](https://wishingwealthblog.com/2023/08/blog-post-day-67-of-qqq-short-term-up-trend-115-new-us-highs-and-44-lows-11-stocks-have-osb-after-recent-ath-see-list-which-includes-nvda-and-its-chart-see-also-recent-osb-amph/) - These stocks reached an ATH recently and have had an oversold bounce, indicated by a black dot. They are sorted by close/lowest price past year. Interesting, NVDA is at the top. If I buy any OSB, I place an immediate stop below the bounce. Note the earnings dates. Holding through earnings has been treacherous lately, - [Blog Post: Day 65 of $QQQ short term up-trend; 149 US new highs and 23 lows; treasury bonds cratering, see $TLT and chart showing duration of QQQ up-trends](https://wishingwealthblog.com/2023/08/blog-post-day-65-of-qqq-short-term-up-trend-149-us-new-highs-and-23-lows-treasury-bonds-cratering-see-tlt-and-chart-showing-duration-of-qqq-up-trends/) - As bonds fall rates go up. Something is off. Could this be related to the Fitch downgrade? Look at the red spikes. The market cannot fight rising rates. The QQQ short term up-trend, at 65 days is getting old. Most end before this, see chart below for 2006-2019. The end of a short term up-trend - [Blog Post: Day 63 of $QQQ short term up-trend; 2 promising stocks and $QQQ with black dots, $SKX and $PLTR](https://wishingwealthblog.com/2023/07/blog-post-day-63-of-qqq-short-term-up-trend-2-promising-stocks-and-qqq-with-black-dots-skx-and-pltr/) - A black dot indicates an oversold bounce. SKX also had a GLB (green line break-out to ATH). Note the huge volume on Friday after earnings were released. I love their new slip-in shoes. I bought some. PLTR is way down from its ATH= 44.91. The GMI remains Green, at 6 (of 6). - [Blog Post: 61st day of $QQQ short term up-trend; Check out my analysis of $OC which had a recent GLB, a weekly green bar, and a black dot on Wednesday with earnings](https://wishingwealthblog.com/2023/07/blog-post-61st-day-of-qqq-short-term-up-trend-check-out-my-analysis-of-oc-which-had-a-recent-glb-a-weekly-green-bar-and-a-black-dot-on-wednesday-with-earnings/) - OC came up on my scan because it had an OSB (oversold bounce) shown by several black dots. It rose on above average volume to an ATH (all-time high). It also met my criteria for a weekly green bar. Note the GLB (green line break-out) in June. Here is its monthly chart. And its weekly - [Blog Post: Day 60 of $QQQ short term up-trend; $DE just below its green line--will it break out? See monthly and daily charts.](https://wishingwealthblog.com/2023/07/blog-post-day-60-of-qqq-short-term-up-trend-de-just-below-its-green-line-will-it-break-out-see-monthly-and-charts/) - Here is DE's monthly chart showing derivation of green line at ATH not exceeded for at least 3 months. Tan line is prior green line top. MarketSmith says Comp rating=97 with EPS=98 and RS=82. Here is its daily chart. Would like to see above average volume on any break-out. - [Blog Post: Day 58 of $QQQ short term up-trend; 136 US new highs and 9 lows and 45 at ATH; $QQQ remains in a weekly RWB up-trend, see chart](https://wishingwealthblog.com/2023/07/blog-post-day-58-of-qqq-short-term-up-trend-136-us-new-highs-and-9-lows-and-45-at-ath-qqq-remains-in-a-weekly-rwb-up-trend-see-chart/) - The GMI remains at 6 (of 6) and Green, but note that only 4 of the more sensitive components in GMI2 are positive. We need to get through the Fed meeting this week. - [Blog Post: Day 57 of $QQQ short term up-trend; list of 4 growth stocks with Black Dot OSB set-up, see daily charts of $WWE and $KNSL](https://wishingwealthblog.com/2023/07/blog-post-day-57-of-qqq-short-term-up-trend-list-of-4-growth-stocks-with-black-dot-osb-set-up-see-daily-charts-of-wwe-and-knsl/) - While many growth stocks were punished on Thursday, these 4 had promising bounces up off of oversold conditions. Each hit a recent yearly high or ATH (all-time-high). They are worth researching. Here is the list and the daily chart of WWE. Note that WWE is above its last green line top and has also found - [Blog Post: 292 US new highs, 19 lows, 108 at ATH; Here are 7 growth stocks that had an oversold bounce Tuesday](https://wishingwealthblog.com/2023/07/blog-post-292-us-new-highs-19-lows-108-at-ath-here-are-7-growth-stocks-that-had-an-oversold-bounce-tuesday/) - Note that 3 are airlines, a good technical sign. Ranked by close today/lowest close past 250 days - [Blog Post: Day 53 of $QQQ short term up-trend; 162 US new highs and 20 lows; GMI remains 6 of 6 and Green; 3 Growth stocks with a black dot OSB set-up Friday: $WDAY, $KNSL, $GLF](https://wishingwealthblog.com/2023/07/blog-post-day-53-of-qqq-short-term-up-trend-162-us-new-highs-and-20-lows-gmi-remains-6-of-6-and-green-3-growth-stocks-with-a-black-dot-osb-set-up-friday-wday-knsl-glf/) - As I have written recently I like my Black Dot OSB set-up. These stocks have hit a recent new high and bounced up from oversold. After researching the fundamentals, I might buy one of these stocks and place my sell stop below the low of the bounce. If the bounce fails I exit immediately with - [Blog Post: $CAVA's break-out fails--why I prefer my OSB set-up over break-outs, see daily charts of $CAVA and $MLM.](https://wishingwealthblog.com/2023/07/blog-post-cavas-break-out-fails-why-i-prefer-my-osb-set-up-over-break-outs-see-daily-charts-of-cava-and-mlm/) - CAVA opened up above the prior day's high and closed back below its break-out line. Breakouts sometimes fail and if someone bought at Thursday's open they would have a large loss. I find it more difficult to control my loss with a failed break-out. Where should one place their stop loss? It is not always - [Blog Post: 271 new US highs, 8 lows and 85 at an ATH; Received an alert this morning when $CAVA broke out of a recent IPO base, see daily chart](https://wishingwealthblog.com/2023/07/blog-post-271-new-us-highs-8-lows-and-85-at-an-ath-received-an-alert-this-morning-when-cava-broke-out-of-a-recent-ipo-base-see-daily-chart/) - When I look through charts, I place an alert in TC2000 to tell me the instant a stock climbs above a horizontal line I have drawn at the stock's recent peak. CAVA was too new to form a green line top, which requires a minimum of a 3 month consolidation after reaching a peak. However, - [Blog Post: Day 50 of $QQQ short term up-trend; 5 growth stocks had my Black dot set-up, see list and daily chart of $MLM, and its recent GLB](https://wishingwealthblog.com/2023/07/blog-post-day-50-of-qqq-short-term-up-trend-5-growth-stocks-had-my-black-dot-set-up-see-list-and-daily-chart-of-mlm-and-its-recent-glb/) - MLM just retook its green line after a recent GLB to an ATH. - [Blog Post: Day 49 of $QQQ short term up-trend; 6 of 24 growth stocks came up in the black dot set-up discussed yesterday and were in residential construction: $DHI, $KBH, $LEN, $PHM, $MHO, $CCS, see list of all 24 growth stocks that had this set-up](https://wishingwealthblog.com/2023/07/blog-post-day-49-of-qqq-short-term-up-trend-6-of-24-growth-stocks-came-up-in-the-black-dot-set-up-discussed-yesterday-and-were-in-residential-construction-dhi-kbh-len-phm-mho-ccs-see/) - The fact that so many stocks in the same industry had oversold bounces (OSB) after a recent yearly high suggests to me big buying interest. LEN is one typical example. Note the recent climb above its green line top (GLB). The 24 growth stocks that had this black dot set-up on Monday are listed below. - [Blog Post; Day 48 of $QQQ short term up-trend; My favorite set-up, oversold bounce (black dot) after a recent yearly high, see charts of $OPRA, $BELFB and list of other stocks](https://wishingwealthblog.com/2023/07/blog-post-day-48-of-qqq-short-term-up-trend-my-favorite-set-up-oversold-bounce-black-dot-after-a-recent-yearly-high-see-charts-of-opra-belfb-and-list-of-other-stocks/) - I have been refining my black dot oversold indicator by requiring a prior recent yearly high. I am looking for a stock that has been strong enough to reach a high and then becomes oversold and starts to move up. The beauty of such a set-up is that I can place my stop loss below - [Blog Post: Short term treasury bonds in daily BWR down-trend, see chart of $SHY.](https://wishingwealthblog.com/2023/07/blog-post-short-term-treasury-bonds-in-daily-bwr-down-trend-see-chart-of-shy/) - Short interest rates are rising as bonds decline. - [Blog Post: Day 46 of $QQQ short term up-trend; $ACHR, another leader in the eVTOL industry is taking off like $JOBY, see charts](https://wishingwealthblog.com/2023/07/blog-post-day-46-of-qqq-short-term-up-trend-achr-another-leader-in-the-evtol-industry-is-taking-off-like-joby-see-charts/) - While I do not like cheap stocks, I must say that there may be something to the strength shown in the electric vertical take off and landing (eVTOL) industry. I wrote about JOBY recently and ACHR is another stock in the industry showing some life. Note the volume surges and the nice OSB (oversold bounce) - [Blog Post: Day 45 of $QQQ short term up-trend; $GLD is in a daily BWR down-trend, see chart](https://wishingwealthblog.com/2023/07/blog-post-day-45-of-qqq-short-term-up-trend-gld-is-in-a-daily-bwr-down-trend-see-chart/) - [Blog Post: Day 44 of $QQQ short term up-trend; 108 US stocks at ATH, most since 12/29/2021! See the one chart that tells me if QQQ is in a bull or bear market](https://wishingwealthblog.com/2023/07/blog-post-day-44-of-qqq-short-term-up-trend-108-us-stocks-at-ath-most-since-12-29-2021-see-the-one-chart-that-tells-me-if-qqq-is-in-a-bull-or-bear-market/) - This weekly chart shows the 10 week average (dotted line) and the 30 week average (red solid line). The gray line is the weekly close. When the 10 week average crosses above the 30 wk and the 30 wk starts rising we are in a new bull market. The early sign of a possible down - [Blog Post: Day 42 of $QQQ short term up-trend; 158 US new highs and 31 lows; my stock buddy's concept stock, $JOBY, takes off, see chart and explanation](https://wishingwealthblog.com/2023/06/blog-post-day-42-of-qqq-short-term-up-trend-158-us-new-highs-and-31-lows-my-stock-buddys-concept-stock-joby-takes-off-see-chart-and-explanation/) - My stock buddy, Judy, has an extraordinary ability to pick stocks based on "concept." She researches companies and studies their products, management and technicals. If she loves a concept she buys VERY early and holds on patiently. She focuses heavily on biotechs and has picked some big winners. Several years ago, Judy told me about - [Blog Post: Day 41 of $QQQ short term up-trend; 143 US new highs, 26 lows and 63 ATHs; Window dressing upon us--beware, $QQQ, $SPY have black dots, see charts](https://wishingwealthblog.com/2023/06/blog-post-day-41-of-qqq-short-term-up-trend-143-us-new-highs-26-lows-and-63-aths-window-dressing-upon-us-beware-qqq-spy-have-black-dots-see-charts/) - Well, window dressing came a day later than I expected. This is when many of the strong stocks are bought up by mutual funds so their quarterly reports look good. However, it ends by Friday and maybe even Thursday, if many people exit early. Then we may get beginning of the month weakness for two - [Blog Post: Day 39 of $QQQ short term up-trend; GMI declines to 4; list of 9 stocks that passed my weekly green bar scan--includes $AAPL, see chart; window dressing upon us?](https://wishingwealthblog.com/2023/06/blog-post-day-39-of-qqq-short-term-up-trend-gmi-declines-to-4-list-of-9-stocks-that-passed-my-weekly-green-bar-scan-includes-aapl-see-chart-window-dressing-upon-us/) - This scan looks for stocks in an up-trend (4wk avg>10wk>30wk) that reached a recent ATH and reached a 20 week high in relative strength and bounced up off of their rising 4 week moving average. If I buy on this setup I exit if the stock looks like it will close the week below the - [Blog Post: Small-cap stocks have likely formed a bottom and started to advance, check out these weekly and daily charts for $IWM and $TNA, https://wp.me/pqq9l-6Lr](https://wishingwealthblog.com/2023/06/blog-post-small-cap-stocks-have-likely-formed-a-bottom-and-started-to-advance-check-out-these-weekly-and-daily-charts-for-iwm-and-tna-https-wp-me-pqq9l-6lr/) - TNA is the triple leveraged bullish ETF for IWM, the Russell 2000 index ETF. I prefer to trade TNA, like I trade TQQQ when QQQ is in an up-trend. TNA advanced +8% on Tuesday while IWM advanced +2.6%. Now that the tech stocks have moved up, it is fitting that people feel more comfortable buying - [Blog Post: Day 26 of $QQQ short term up-trend; 12 growth stocks reached ATH on Monday; see list, sorted by last column (close Monday/minimum price last 250 days); https://wp.me/pqq9l-6Lf](https://wishingwealthblog.com/2023/06/blog-post-day-26-of-qqq-short-term-up-trend-12-growth-stocks-reached-ath-on-monday-see-list-sorted-by-last-column-close-monday-minimum-price-last-250-days-https-wp-me-pqq9l-6lf/) - VTS was an IPO the past year. Next to last column is volume Monday divided by average daily volume the past 50 days. - [Blog Post: Day 25 of $QQQ short term up-trend; GMI=6 (of 6) and Green; Market in solid up-trend, set-ups working, $PANW, after recent GLB, to open up strong on Monday, see daily, weekly and monthly charts for green line signals; see list of 23 stocks at ATH](https://wishingwealthblog.com/2023/06/blog-post-day-25-of-qqq-short-term-up-trend-gmi6-of-6-and-green-market-in-solid-up-trend-set-ups-working-panw-after-recent-glb-to-open-up-strong-on-monday-see-daily-weekly-and-monthly-ch/) - PANW kept coming up in my ATH scans. It had a GLB to a new ATH on May 26. It finally closed above its green line of $213.61 on Thursday, June 1. I bought some on Friday. Friday evening it was announced that PANW will be added to the S&P500 index and the stock has - [Blog Post: Day 24 of $QQQ short term up-trend; $QQQ is in a Stage 2 up-trend with a yellow band pattern, but may be extended, see weekly chart](https://wishingwealthblog.com/2023/06/blog-post-day-24-of-qqq-short-term-up-trend-qqq-is-in-a-stage-4-up-trend-with-a-yellow-band-pattern-but-may-be-extended-see-weekly-chart/) - I have been transferring retirement funds from money market funds back into mutual funds. QQQ is now in a strong yellow band up-trend. See this weekly chart. QQQ is above its rising 30 week average (red line) and its 10 week average (blue dotted) is rising above the 30 week average. Note the clear space - [Blog Post: Day 22 of $QQQ short term up-trend; 17 growth stocks reached ATH, see list](https://wishingwealthblog.com/2023/05/blog-post-day-22-of-qqq-short-term-up-trend-17-growth-stocks-reached-ath-see-list/) - Last column sorted by close/lowest price last 250 days. - [Blog Post: Day 21 of $QQQ short term up-trend; $NVDA has GLB last week, see monthly and daily charts](https://wishingwealthblog.com/2023/05/blog-post-day-21-of-qqq-short-term-up-trend-nvda-has-glb-last-week-see-monthly-and-daily-charts/) - This monthly chart shows that NVDA had a green line break-out (GLB) to an ATH last week. This is one fallen angel that made it back. Here is its daily chart. Note the huge volume on the day of the break-out after earnings were released. To avoid being a failed GLB, NVDA should not close - [Blog Post: Day 20 of $QQQ short term up-trend; 13 stocks at ATH today, see list](https://wishingwealthblog.com/2023/05/blog-post-day-20-of-qqq-short-term-up-trend-13-stocks-at-ath-today-see-list/) - Stocks are ordered by close today divided by 250 day low. - [Blog Post: Day 19 of $QQQ short term up-trend; $BMEA has interesting set-up: recent gap up and oversold bounce, will it hold?](https://wishingwealthblog.com/2023/05/blog-post-day-19-of-qqq-short-term-up-trend-bmea-has-interesting-set-up-recent-gap-up-and-oversold-bounce-will-it-hold/) - Note GLB in March. BMEA rose 5.4% during the weak market on Wednesday. It must hold lower BB at 30.94. Black dot= oversold bounce. - [Blog Post: Day 18 of $QQQ short term up-trend; 72 US new highs and 20 new lows on Tuesday; My 10:30 weekly chart still shows $QQQ in a Stage 2 up-trend; see also charts for $WWE, $ZM](https://wishingwealthblog.com/2023/05/blog-post-day-18-of-qqq-short-term-up-trend-72-us-new-highs-and-20-new-lows-on-tuesday-my-1030-weekly-chart-still-shows-qqq-in-a-stage-2-up-trend-see-also-charts-for-wwe-zm/) - Note that the 10 week average (dotted line) is rising above the rising 30 week average (red solid line). In the past this has been the pattern marking the end of a major down-trend. Gray line is the weekly close. This pattern works for individual stocks too. On the way up and then down. - [Blog Post: Day 16 of $QQQ short term up-trend; GMI is still Green; 13 stocks at ATH to consider once debt talks are successfully resolved](https://wishingwealthblog.com/2023/05/blog-post-day-16-of-qqq-short-term-up-trend-gmi-is-still-green-13-stocks-at-ath-to-consider-once-debt-talks-are-successfully-resolved/) - These stocks traded at an ATH on Friday and are on my watchlist of stocks that have been on IBD or MS lists. They are sorted by close Friday divided by lowest price the past 250 days. They all traded at an all-time high on Friday. VTS, with ****, is an IPO within the past - [Blog Post: Barring a sudden panic over the debt negotiations, my indicators suggest a major market Stage 2 up-trend has begun, see charts](https://wishingwealthblog.com/2023/05/blog-post-barring-a-sudden-panic-over-the-debt-negotiations-my-indicators-suggest-a-major-market-stage-2-up-trend-has-begun-see-charts/) - 30 week average (red line) curving up. RWB weekly up-trend begun. - [Blog Post: Day 14 of $QQQ short term up-trend; 94 US new highs and 55 lows; 20 stocks at ATHs, see list, one of them, $ENLT, has IPO break-out, see weekly chart](https://wishingwealthblog.com/2023/05/blog-post-day-14-of-qqq-short-term-up-trend-94-us-new-highs-and-55-lows-20-stocks-at-aths-see-list-one-of-them-enlt-has-ipo-break-out-see-weekly-chart/) - List contains US and foreign stocks and is ordered by close divided by low price past 25o days. About half have already doubled from their yearly low. Flagged stocks are on my watchlist built from recent IBD and MS lists. ENLT has had an IPO break-out. See weekly chart. - [Blog Post: Day 13 of $QQQ short term up-trend; $DHI has GLB, like $PHM weeks ago--residential construction showing green shoots, see charts](https://wishingwealthblog.com/2023/05/blog-post-day-13-of-qqq-short-term-up-trend-dhi-has-glb-like-phm-weeks-ago-residential-construction-showing-green-shoots-see-charts/) - [Blog Post: Day 12 of $QQQ short term up-trend; $QQQ up against resistance and Tuesday's debt meeting outcome should determine the market's near term direction, see daily chart](https://wishingwealthblog.com/2023/05/blog-post-day-12-of-qqq-short-term-up-trend-qqq-up-against-resistance-and-tuesdays-debt-meeting-outcome-should-determine-the-markets-near-term-direction-see-daily-chart/) - [Blog Post: Day 11 of $QQQ short term up-trend; On Friday, 69 new US highs and 131 lows; the GMI remains Green but I am on defense until the debt stalemate is settled](https://wishingwealthblog.com/2023/05/blog-post-day-11-of-qqq-short-term-up-trend-on-friday-69-new-us-highs-and-131-lows-the-gmi-remains-green-but-i-am-on-defense-until-the-debt-stalemate-is-settled/) - While my indicators suggest that the bottom is in for QQQ, I remain mainly in GLD until the US gets through the debt limit battle. The market fell deeply during the debt battle in 2011 but gold held up until the limit was raised. But there are few new highs each day and more yearly - [Blog Post: Day 9 of $QQQ short term up-trend; 107 US new highs and 99 lows; $QQQ approaching resistance at trend channel line, see daily chart](https://wishingwealthblog.com/2023/05/blog-post-day-9-of-qqq-short-term-up-trend-107-us-new-highs-and-99-lows-qqq-approaching-resistance-at-trend-channel-line-see-daily-chart/) - [Blog Post: Day 6 of $QQQ short term up-trend; 96 US new highs and 39 lows Friday; This week will show whether debt negotiations squabbles will create havoc with the markets, hide in precious metals? See daily charts of $GLD and $SLV](https://wishingwealthblog.com/2023/05/blog-post-day-6-of-qqq-short-term-up-trend-96-us-new-highs-and-39-lows-friday-this-week-will-show-whether-debt-negotiations-squabbles-will-create-havoc-with-the-markets-hide-in-precious-metals/) - The GMI and $QQQ short term up-trend survived close calls last week. Normally the end of earnings period brings about market softness, and it is Sell in May time. I am mainly in cash and hold some GLD. We should know by Tuesday, after the White House meeting, whether we are likely to have a - [Blog Post: Day 5 of $QQQ short term up-trend, which could end Friday; 62 US highs and 335 lows, most lows since March 24; Recent GLB stock $BMEA refuses to decline, see daily chart](https://wishingwealthblog.com/2023/05/blog-post-day-5-of-qqq-short-term-up-trend-which-could-end-friday-62-us-highs-and-335-lows-most-lows-since-march-24-recent-glb-stock-bmea-refuses-to-decline-see-daily-chart/) - I am keeping an eye on BMEA, which I wrote about when it had its GLB in late March. It seems impervious to the market's weakness--great relative strength. - [Blog Post: $LLY rockets higher to ATH after retesting GLB, see daily chart](https://wishingwealthblog.com/2023/05/blog-post-lly-rockets-higher-to-ath-after-retesting-glb-see-daily-chart/) - Three days after the GLB the stock returned to kiss the green line. Note the huge volume Wednesday as LLY announced promising clinical trial results. - [Blog Post: Day 3 of $QQQ short term up-trend; 63 US new highs and 254 lows; $GLD looking up again, see daily chart](https://wishingwealthblog.com/2023/05/blog-post-day-3-of-qqq-short-term-up-trend-63-us-new-highs-and-254-lows-gld-looking-up-again-see-daily-chart/) - Gold is starting to move. Note the volume spike on Tuesday. Gold did real well during the 2011 debt crisis. Stay tuned. - [Blog Post: Day 2 of $QQQ short term up-trend; 130 US new highs and 62 lows; See list of 21 stocks at ATH](https://wishingwealthblog.com/2023/05/blog-post-day-2-of-qqq-short-term-up-trend-130-us-new-highs-and-62-lows-see-list-of-21-stocks-at-ath/) - Ordered by today's price divided by lowest price the past year. Note expected next earnings dates. - [Blog Post: Day 1 of $QQQ short term up-trend; GMI remains Green; It still looks to me like the market bottom is in, see charts and the new indicator added to GMI table](https://wishingwealthblog.com/2023/04/blog-post-day-1-of-qqq-short-term-up-trend-gmi-remains-green-it-still-looks-to-me-like-the-market-bottom-is-in-see-charts-and-the-new-indicator-added-to-gmi-table/) - We had an unusual 2 day long new QQQ short term down-trend last week. I had noted that 40% of short term down-trends last 5 days or less but this was a rare, very brief one. And the GMI came close to turning Red las week, but held. My 10:30 weekly chart below shows QQQ - [Blog Post; New $QQQ short term down-trend may end after 2 days Friday; GMI remains Green; market pulls back from cliff, for now; $PHM climbs after GLB, see chart](https://wishingwealthblog.com/2023/04/blog-post-new-qqq-short-term-down-trend-may-end-after-2-days-friday-gmi-remains-green-market-pulls-back-from-cliff-for-now-phm-climbs-after-glb-see-chart/) - Well, I was correct that we would see a large move in QQQ after the constricted Bollinger Bands, but wrong on the direction. It remains to be seen how long this bounce will last. I noticed that PHM hit another ATH today after having an earnings related GLB on Tuesday on good volume. PHM has - [Day 1 of new $QQQ short term down-trend, GMI, at 2 (of 6) could turn Red Thursday; 33 US new highs and 176 lows; Be careful](https://wishingwealthblog.com/2023/04/day-1-of-new-qqq-short-term-down-trend-gmi-at-2-of-6-could-turn-red-thursday-33-us-new-highs-and-176-lows-be-careful/) - Post earnings release period could be deadly. And then there is the dreaded Sell in May and Go Away period. And then the likely debt debacle. I am mainly short or in cash as the GMI weakens. Meanwhile, Wedneday was the first day of the new QQQ short term down-trend. About 40% of new short - [Blog Post: Day 27 of $QQQ short term up-trend, likely to end on Wednesday; $QQQ closes below bottom 15.2 daily Bollinger Band; MACD called decline; $TLM entering Stage 2 for debt crisis?](https://wishingwealthblog.com/2023/04/blog-post-day-27-of-qqq-short-term-up-trend-likely-to-end-on-wednesday-qqq-closes-below-bottom-15-2-daily-bollinger-band-macd-called-decline-tlm-entering-stage-2-for-debt-crisis/) - I wrote a few days ago that the MACD histograms were weakening, making me think that QQQ might break below its lower constricting BBs. Note in the daily chart below that the MACD histograms have been declining and red for the past 10 days. A rising security will generally have a rising pattern of histograms - [Blog Post: Day 26 of $QQQ short term up-trend; $WING flies to ATH, how I missed the GLB--true confessions, and see my green line rules](https://wishingwealthblog.com/2023/04/blog-post-day-26-of-qqq-short-term-up-trend-wing-flies-to-ath-how-i-missed-the-glb-true-confessions-and-see-my-green-line-rules/) - As you know, I like to buy stocks that have moved to an ATH (all time high) have then rested, and then moved up to a new ATH. That is the strategy of the greatest traders I follow. I draw a green line at the stock's peak once it has not been surpassed for a - [Blog post: Day 25 of $QQQ short term up-trend; 2 indicators on my daily chart spell possible trouble for $QQQ; 2 ETFs rose during the 2011 debt crisis](https://wishingwealthblog.com/2023/04/blog-post-day-25-of-qqq-short-term-up-trend-2-indicators-on-my-daily-chart-spell-possible-trouble-for-qqq-2-etfs-rose-during-the-2011-debt-crisis/) - Equities mostly stay within their upper and lower Bollinger Bands. I use the 15.2 BB. When the bands contract it indicates reducing volatility. At some point the stock breaks out of the constricted bands and volatility explodes. The problem is one does not know in advance which direction it will go. On Friday, QQQ bounced - [Blog Post: Day 24 of $QQQ short term up-trend; $QQQ in Bollinger Band pinch, big move imminent, see daily chart](https://wishingwealthblog.com/2023/04/blog-post-day-24-of-qqq-short-term-up-trend-qqq-in-bollinger-band-pinch-big-move-imminent-see-daily-chart/) - One cannot know which way the break will occur after a BB pinch. Be careful. We are approaching the Sell in May time. - [Blog Post: Day 23 of $QQQ short term up-trend; $TSLA's protracted Stage 4 down-trend suggested an earnings miss](https://wishingwealthblog.com/2023/04/blog-post-day-23-of-qqq-short-term-up-trend-tslas-protracted-stage-4-down-trend-suggested-an-earnings-miss/) - [Blog Post: Day 22 of $QQQ short term up-trend; 107 US new highs and 77 lows; Biotech, $BMEA, showing promising technical strength, see daily and monthly charts](https://wishingwealthblog.com/2023/04/blog-post-day-22-of-qqq-short-term-up-trend-107-us-new-highs-and-77-lows-biotech-bmea-showing-promising-technical-strength-see-daily-and-monthly-charts/) - My TC2000 scan for stocks at a recent ATH that have already doubled and are now bouncing from oversold picked up 3 candidates. One of them, BMEA, had a huge gap up based on promising clinical trial results. Note its recent GLB (green line break-out). This company bears watching, but remember, all biotechs are vulnerable - [Blog Post: Day 21 of $QQQ short term up-trend; 84 new US highs and 87 lows; see list of 15 stocks at ATH on Monday](https://wishingwealthblog.com/2023/04/blog-post-day-21-of-qqq-short-term-up-trend-84-new-us-highs-and-87-lows-see-list-of-15-stocks-at-ath-on-monday/) - Sorted by last column: close/minimum low past 250 days. Note next earnings dates. - [Blog Post: Day 20 of $QQQ short term up-trend; 18 stocks on my IBD/MS growth stock list reached an ATH on Friday, see list](https://wishingwealthblog.com/2023/04/blog-post-day-20-of-qqq-short-term-up-trend-18-stocks-on-my-ibd-ms-growth-stock-list-reached-an-ath-on-friday-see-list/) - These stocks are sorted according to current price divided by lowest price the past 250 days. Seven are 2x or more their lowest price the past year. Doublers are worth studying to see if they meet one's set-up for a low risk purchase. Be sure to note the next earnings report date for each, in - [Blog Post: Day 19 of $QQQ short term up-trend; 19 stocks on my IBD/MS watch list at ATHs on Thursday, see list which includes $LLY and $NVO](https://wishingwealthblog.com/2023/04/blog-post-day-19-of-qqq-short-term-up-trend-19-stocks-on-my-ibd-ms-watch-list-at-aths-on-thursday-see-list-which-includes-lly-and-nvo/) - This list is sorted by the close Thursday divided by lowest price the past 250 days. Four have doubled their low price. Note also the next earnings dates and that NVO and LLY hit ATHs today. News from the FDA about their drugs for obesity is due this month. True market leaders show up on - [Blog Post: Day 16 of $QQQ short term up-trend; 54 new US highs and 46 lows; $COCO reaches another ATH, see accumulation in daily chart and IPO break-out, COCO is riding its 4 wk avg, see 3 charts](https://wishingwealthblog.com/2023/04/blog-post-day-16-of-qqq-short-term-up-trend-54-new-us-highs-and-46-lows-coco-reaches-another-ath-see-accumulation-in-daily-chart-and-ipo-break-out-coco-is-riding-its-4-wk-avg-see-3-charts/) - COCO had a GLB on 3/24 and the volume shows spikes of buying since February. MarketSmith says COCO has a Comp Rating=94 and AccDis Rating =A+. RS=99. I like the fact that COCO is now 3x its lowest price the past year. And 2023 earnings are projected to rise +371%. Here are the daily, monthly - [Blog Post: Day 15 of $QQQ short term up-trend; $LLY rocketing towards GLB as obesity drug is up for approval, see daily, weekly and monthly charts](https://wishingwealthblog.com/2023/04/blog-post-day-15-of-qqq-short-term-up-trend-lly-rocketing-towards-glb-as-obesity-drug-is-up-for-approval-see-daily-weekly-and-monthly-charts/) - $LLY may soon receive approval for their obesity drug, which may prove to be a blockbuster drug. It appears that the stock is rising in anticipation of results from a second Phase 3 trial, expected this month. This could be big if LLY can break above its green line ATH peak at $375.25. I have - [Blog Post: Day 14 of $QQQ short term up-trend; 50 US new highs and 285 new lows; $GLD is approaching GLB, see its monthly chart](https://wishingwealthblog.com/2023/04/blog-post-day-14-of-qqq-short-term-up-trend-50-us-new-highs-and-285-new-lows-gld-is-approaching-glb-see-its-monthly-chart/) - The green line ATH is at 194.45 set in 2020. GLD may eventually break out of its 3 year consolidation. There may be a lot of sellers around the old peak. I will therefore wait for it to break out to an ATH on above average volume. - [Blog Post: Day 13 of $QQQ short term up-trend; 85 US new highs and 227 new lows; $QQQ 10:30 weekly chart is strong, see how I read it](https://wishingwealthblog.com/2023/04/blog-post-day-13-of-qqq-short-term-up-trend-85-us-new-highs-and-227-new-lows-qqq-1030-weekly-chart-is-strong-see-how-i-read-it/) - This weekly chart usually alerts me to market turns. QQQ is closing (gray line) above the 10 week average (dotted line) which is above the 30 week average (solid line). And the 30 week average is beginning to turn up. This would also be considered a beginning Weinstein Stage II up-trend. All recent market bottoms - [Blog Post: Day 12 of $QQQ short term up-trend; List of 19 growth stocks at ATHs Monday, people love chocolate!--$HSY](https://wishingwealthblog.com/2023/04/blog-post-day-12-of-qqq-short-term-up-trend-list-of-19-growth-stocks-at-aths-monday-people-love-chocolate-hsy/) - Sorted by close today/minpricepast250days (last column) - [Blog Post: Day 11 of $QQQ short term up-trend; GMI= 6 (of 6); Time to abandon low risk income and buy stocks/ETFs; Mutual fund window dressing is over, on to earnings, see list of 18 growth stocks at ATHs](https://wishingwealthblog.com/2023/04/blog-post-day-11-of-qqq-short-term-up-trend-gmi-6-of-6-time-to-abandon-low-risk-income-and-buy-stocks-etfs-mutual-fund-window-dressing-is-over-on-to-earnings-see-list-of-18-growth-stocks-at/) - Everyone is talking about hiding in safer FDIC insured money market accounts now that one can earn 4%+ in interest, risk free. I told you in November, 2021 that I was exiting the market because the Fed would raise interest rates and that would suck the $$$ out of stocks. Now get ready for the - [Blog Post: Day 10 of $QQQ short term up-trend; GMI flashes Green; $QQQ in a daily RWB up-trend, see chart; Growth stocks at ATH Thursday: $VIST, $TRI, $NVO, $CRUS, $JBL, $ULTA](https://wishingwealthblog.com/2023/03/blog-post-day-10-of-qqq-short-term-up-trend-gmi-flashes-green-qqq-in-a-daily-rwb-up-trend-see-chart-growth-stocks-at-ath-thursday-vist-tri-nvo-crus-jbl-ulta/) - QQQ is in a nice daily RWB up-trend. - [Blog Post: Day 9 of $QQQ short term up-trend; GMI=4 and could turn Green Thursday; Ignore news and look ahead, not back--new up-trend has begun! $CRUS hits ATH, see chart](https://wishingwealthblog.com/2023/03/blog-post-day-9-of-qqq-short-term-up-trend-gmi4-and-could-turn-green-thursday-ignore-news-and-look-ahead-not-back-new-up-trend-has-begun-crus-hits-ath-see-chart/) - Stocks reaching ATHs at the beginning of a market up-trend may turn out to be new market leaders. After a GLB in early February, CRUS consolidated around its green line for 7 weeks and broke out to an ATH on Wednesday. See daily, weekly and monthly charts. - [Blog Post: Day 7 of $QQQ short term up-trend; $ELF, a great example of a successful GLB, see weekly and monthly charts and how the daily chart might scare one out of an advancing stock](https://wishingwealthblog.com/2023/03/blog-post-day-7-of-qqq-short-term-up-trend-elf-a-great-example-of-a-successful-glb-see-weekly-and-monthly-charts-and-how-the-daily-chart-might-scare-one-out-of-an-advancing-stock/) - On a weekly chart one can see how nicely ELF has behaved since its GLB last August. It only closed below its 10 week average (blue dotted line) twice. The monthly chart shows why I drew the green line where I did. How many of us would wait 7 months for our stock to double? - [Blog Post: Day 6 of $QQQ short term up-trend; IBD just added $INTA to the New America list, Recent IPO $INTA retook its green line breakout (GLB) last week; $COCO also had an IPO GLB on Friday see charts](https://wishingwealthblog.com/2023/03/blog-post-day-6-of-qqq-short-term-up-trend-ibd-just-added-inta-to-the-new-america-list-recent-ipo-inta-retook-its-green-line-breakout-glb-last-week-coco-also-had-an-ipo-glb-on-friday-see-ch/) - It is always nice when IBD lauds a stock that I have been following based on my indicators. I first noticed INTA when it closed above its green line on March 7 and closed at an ATH (GLB). It then closed above and below its green line several times. On Tuesday it climbed above the - [Blog Post: Day 5 of $QQQ short term up-trend; Unlike $SPY or $DIA, $QQQ remains in a daily RWB up-trend, see adapted daily GMMA charts](https://wishingwealthblog.com/2023/03/blog-post-day-5-of-qqq-short-term-up-trend-unlike-spy-or-dia-qqq-remains-in-a-daily-rwb-up-trend-see-adapted-daily-gmma-charts/) - Unlike SPY Or DIA - [Blog Post: Day 3 of $QQQ short term up-trend; $LMB has GLB, see daily and monthly charts](https://wishingwealthblog.com/2023/03/blog-post-day-3-of-qqq-short-term-up-trend-lmb-has-glb-see-daily-and-monthly-charts/) - LMB retook its green line on Tuesday.Note the recent above average trading volume. It is worth watching. - [Blog Post: Day 2 of $QQQ short term up-trend; 28 US new highs and 334 lows; 81% of Nasdaq 100 stocks rise; $TRI and $ANET hit ATH after recent GLB, see charts](https://wishingwealthblog.com/2023/03/blog-post-day-2-of-qqq-short-term-up-trend-28-us-new-highs-and-334-lows-81-of-nasdaq-100-stocks-rise-tri-and-anet-hit-ath-after-recent-glb-see-charts/) - Only 5 of 7,000 stocks reached an ATH on Monday. One fo them, TRI, did so after a recent GLB. (I couldn't resist buying a little.) Another was $ANET - [Blog Post: Day 1 of new $QQQ short term up-trend; 23 new US highs, 433 lows and 6 at ATH; Split market with tech stocks outperforming, but GMI remains Red; Weekly 10:30 chart for $QQQ shows potential longer term turn around, see charts of QQQ and 2 AI related stocks, $MSFT,$NVDA](https://wishingwealthblog.com/2023/03/blog-post-day-1-of-new-qqq-short-term-up-trend-23-new-us-highs-433-lows-and-6-at-ath-split-market-with-tech-stocks-outperforming-but-gmi-remains-red-weekly-1030-chart-for-qqq-shows-potential/) - This weekly 10:30 chart of QQQ shows the 10 week average (dotted line) above the 30 week average (red solid line) and the index weekly close (gray line) is above both averages. Note the higher volume last week. This is the pattern of bottoms. The final evidence for me of a new longer term up-trend - [Blog Post: Day 7 of $QQQ short term down-trend, likely to end Friday; 42 new US highs, 367 lows and 8 at ATHs; Two stocks I wrote about on Tuesday evening as having a GLB rocketed higher on Thursday to ATHs, $ANET, $CDNS, see daily charts](https://wishingwealthblog.com/2023/03/blog-post-day-7-of-qqq-short-term-down-trend-likely-to-end-friday-42-new-us-highs-367-lows-and-8-at-aths-two-stocks-i-wrote-about-on-tuesday-evening-as-having-a-glb-rocketed-higher-on-thursday/) - My Green Line Breakout (GLB) indicator is for me a great way to identify leading stocks. On a monthly chart I draw a horizontal green line on the top of the price bar that reached an all-time-high (ATH) that had not been surpassed for at least 3 months (3 bars). Think of it as a - [Blog Post: Day 6 of $QQQ short term down-trend; 26 US new highs and 562 lows; However, tech stocks, $QQQ, showing some signs of technical strength, see 10/30 weekly chart](https://wishingwealthblog.com/2023/03/blog-post-day-6-of-qqq-short-term-down-trend-26-us-new-highs-and-562-lows-however-tech-stocks-qqq-showing-some-signs-of-technical-strength-see-10-30-weekly-chart/) - My GMI2, a set of very sensitive indicators focusing mainly on QQQ, has jumped from 1 to 6. QQQ has regained its 10 week average and the 10 week is above the 30 week (see 10/30 weekly chart below). AAPL and MSFT are showing strength. The bottom for QQQ and tech stocks could be in. - [Blog Post: Day 5 of $QQQ short term down-trend; 23 US new highs and 251 new lows; $ANET and $CDNS retake green line and close at ATH, see daily charts](https://wishingwealthblog.com/2023/03/blog-post-day-5-of-qqq-short-term-down-trend-23-us-new-highs-and-251-new-lows-anet-and-cdns-retake-green-line-and-close-at-ath-see-daily-charts/) - [Blog Post: GMI turns RED, Day 4 of $QQQ short term down-trend; 17 new US highs and 741 lows and 3 at ATH; $IAI broker-dealer ETF swoons, see daily chart](https://wishingwealthblog.com/2023/03/blog-post-gmi-turns-red-day-4-of-qqq-short-term-down-trend-17-new-us-highs-and-741-lows-and-3-at-ath-iai-broker-dealer-etf-swoons-see-daily-chart/) - I could have shown you many bank charts like this. It is also a little scary to see how brokers are doing. Brokers will make you broker. - [Blog Post: Day 3 of $QQQ short term down-trend; GMI=1 will likely flash Red signal on Monday; 642 new US lows Friday, most since the October low, IBD says market in correction; T2108 dives to 20%, $SPY back below critical declining 30 week average, see weekly chart](https://wishingwealthblog.com/2023/03/blog-post-day-3-of-qqq-short-term-down-trend-gmi1-will-likely-flash-red-signal-on-monday-642-new-us-lows-friday-most-since-the-october-low-ibd-says-market-in-correction-t2108-dives-to-20-spy/) - With the GMI at 1 (of 6), it is time to be on the sidelines in cash again. So many bullish set-ups failed last week. If T2108 declines to below 10%, I may buy a little SPY and only average up, slowly. But SPY looks quite weak now, below its declining 30 week average (red - [Blog Post: Day 2 of $QQQ short term down-trend; 79 new US highs and 361 lows; in cash; $SPY is just below its 30 week average, very dangerous, see weekly chart](https://wishingwealthblog.com/2023/03/blog-post-day-2-of-qqq-short-term-down-trend-79-new-us-highs-and-361-lows-in-cash-spy-is-just-below-its-30-week-average-very-dangerous-see-weekly-chart/) - The 30 week average (red solid line) is now declining again. Stage 4 down-trend may be gaining steam, watch out. Break-outs are failing. I am in cash. T2108= 28%. When it goes below 10% I will be looking for a bottom. - [Blog Post: Day 1 of $QQQ short term down-trend; 64 US new highs and 217 lows; Mr. Market appears unsure which way to go; still, 9 growth stocks reached an ATH, see list](https://wishingwealthblog.com/2023/03/blog-post-day-1-of-qqq-short-term-down-trend-64-us-new-highs-and-217-lows-mr-market-appears-unsure-which-way-to-go-still-9-growth-stocks-reached-an-ath-see-list/) - These stocks on my watchlist of recent IBD/MS list stocks reached an ATH on Wednesday. They are sorted by close today/minimum price last 250 days. DKS has a GLB this week and ANET closed just below its green line. ALTG reports earnings Thursday. - [Blog Post: Day 2 of $QQQ short term up-trend, but I would not bet on it lasting through Wednesday. 81 new US highs, 170 lows and 18 at ATH; $GLD renewed its down-trend, see daily chart](https://wishingwealthblog.com/2023/03/blog-post-day-2-of-qqq-short-term-up-trend-but-i-would-not-bet-on-it-lasting-through-wednesday-81-new-us-highs-170-lows-and-18-at-ath-gld-renewed-its-down-trend-see-daily-chart/) - Note the above average volume on Tuesday's decline. - [Blog Post: $QQQ short term down-trend could end Monday, the GMI is Green, Mr. Market appears to be getting ready to rally, compare current pattern with 10:30 weekly charts of bottoms in 2020, 2009 and 2002](https://wishingwealthblog.com/2023/03/bog-post-qqq-short-term-down-trend-could-end-monday-the-gmi-is-green-mr-market-appears-to-be-getting-ready-to-rally-compare-current-pattern-with-1030-weekly-charts-of-bottoms-in-2020-2009-and/) - After coming close to beginning a new longer term decline, the market appears to be getting stronger. MY QQQ short term trend indicator could turn up with a good day on Monday. This 10:30 weekly chart of QQQ shows its 10 week average (dotted line) is now above its 30 week average (red line). This - [Blog Post: Day 1 of new $QQQ short term up-trend, will Powell kill it? 137 new US highs, 100 lows and 41 at ATH; 6 stock with weekly green bar worth watching, see list and definition](https://wishingwealthblog.com/2023/03/blog-post-day-1-of-new-qqq-short-term-up-trend-will-powell-kill-it-137-new-us-highs-100-lows-and-41-at-ath-6-stock-with-weekly-green-bar-worth-watching-see-list-and-definition/) - These stocks have a weekly green bar already as of Monday. They are sorted by close/minimum low last 250 days. VIST and INTA have already tripled from their yearly lows. They are all on my IBD/MS watchlist. Green bar scan= ATH in past 3 months, rising pattern of 4wk>10wk>30wk, currently bouncing rising 4wk avg and - [Blog Post: Day 4 of $QQQ short term down-trend; 129 new US highs, 181 lows; MACD histograms suggesting turn in GLD and UUP, see charts](https://wishingwealthblog.com/2023/03/blog-post-day-4-of-qqq-short-term-down-trend-129-new-us-highs-181-lows-macd-histograms-suggesting-turn-in-gld-and-uup-see-charts/) - The MACD histograms often show a change in trend before it is evident in the price. Look at how the histogram has been steadily rising as price declines=positive divergence. In contrast, the dollar, UUP, is showing a negative divergence. Gold rises as the dollar falls. Compare the two charts. As the value of the dollar - [Blog Post: GMI remains Green but it is Day 3 of new $QQQ short term down-trend; Gold ($GLD) may be turning up, see daily chart](https://wishingwealthblog.com/2023/03/blog-post-gmi-remains-green-but-it-is-day-3-of-new-qqq-short-term-down-trend-gold-gld-may-be-turning-up-see-daily-chart/) - This daily chart shows that GLD has now retaken its 8 EMA (dotted line) for the first time since February 1, at the recent top. Volume was above average the past 2 days as it rose. It bears watching to see if GLD can mount a new rise. The next hurdle is the 21 EMA - [Blog Post: Day 1 of $QQQ short term down-trend; Buying a little $SQQQ and adding slowly, see daily chart](https://wishingwealthblog.com/2023/02/blog-post-day-1-of-qqq-short-term-down-trend-buying-a-little-sqqq-and-adding-slowly-see-daily-chart/) - I have found that about 40% of new QQQ short term down-trends end within 5 days. So I buy a little SQQQ on Day 1 and increase the position slowly. SQQQ has now closed above its daily 8exp and 21exp averages. - [Blog Post: Day 30 of $QQQ short term up-trend, it may end Monday; 64 US new highs Friday and 176 lows; GMI close to turning RED, but I wait for signal--do not jump the gun](https://wishingwealthblog.com/2023/02/blog-post-day-30-of-qqq-short-term-up-trend-it-may-end-monday-64-us-new-highs-friday-and-176-lows-gmi-close-to-turning-red-but-i-wait-for-signal-do-not-jump-the-gun/) - I will buy a little SQQQ if the QQQ short term up-trend ends on Monday. Most ominous is the fact that SPY has now closed below its 10 week average. Also, the 10.4 fast weekly stochastic has now crossed below the slow stochastic for SPY, DIA and QQQ. A weak day on Monday would likely - [Blog Post: Day 29 of $QQQ short term up-trend; 83 US new highs and 132 lows; QQQ is right on support--Friday's close should provide an idea where Mr. Market wants to go, see chart](https://wishingwealthblog.com/2023/02/blog-post-day-29-of-qqq-short-term-up-trend-83-us-new-highs-and-132-lows-qqq-is-right-on-support-fridays-close-should-provide-an-idea-where-mr-market-wants-to-go-see-chart/) - QQQ is right on its 30 day average(red solid line) and there have been two black dots, indicating an oversold bounce. The 10.4 daily stochastic is also below 20, the level where this index often bounces. Note also the higher volume on Thursday's advance. Friday's close should give me an indication whether the QQQ short - [Blog Post; 51 US new highs and 114 new lows; Indexes weakening and GMI falls to 3 (of 6); See rising short term rates indicator chart in a daily RWB up-trend, and see how I use MACD histograms to monitor turns in $QQQ, $SPY and $TSLA.](https://wishingwealthblog.com/2023/02/blog-post-51-us-new-highs-and-114-new-lows-indexes-weakening-and-gmi-falls-to-3-of-6-see-rising-short-term-rates-indicator-chart-in-a-daily-rwb-up-trend-and-see-how-i-use-macd-histograms-to-moni/) - My QQQ short term trend indicator could turn down with a couple of more days of weakness in QQQ. The GMI could also flash RED. I am 95% cash in my trading account. With earnings season over, there is very little good news to propel stocks higher. There is often a post earnings season lull - [Blog Post: Day 26 of $QQQ short term up-trend; Weekly 10:30 charts show $DIA and $SPY turning around, but not yet $QQQ](https://wishingwealthblog.com/2023/02/blog-post-day-26-of-qqq-short-term-up-trend-weekly-1030-charts-show-dia-and-spy-turning-around-but-not-yet-qqq/) - This weekly chart of SPY shows the 10 and 30 week (red solid line) averages and the gray line shows the weekly closes. As long as the 10 week is above the 30 week average the market is in an up-trend. Note the closes are leading the index higher. The DIA is even stronger. QQQ - [Blog Post: Day 24 of $QQQ short term up-trend; When technical analysis fails: $CRDO, my confession](https://wishingwealthblog.com/2023/02/blog-post-day-24-of-qqq-short-term-up-trend-when-technical-analysis-fails-crdo-my-confession/) - On February 7, I tweeted that CRDO had had a GLB (green line break-out to an all-time high). The green line was at $18.00. In the 7 days after the GLB CRDO went sideways and then started moving up and reached $19.46 on Tuesday, see chart. CRDO then collapsed Tuesday evening when the company announced - [Blog Post: Day 22 of $QQQ short term up-trend; See list of 15 growth stocks at ATH, sorted by close/lowest price past year](https://wishingwealthblog.com/2023/02/blog-post-day-22-of-qqq-short-term-up-trend-see-list-of-15-growth-stocks-at-ath-sorted-by-close-lowest-price-past-year/) - All 15 are on my watchlist of stocks recently on IBD/MS lists. Last column shows close/lowest price past year. - [Blog Post: Day 21 of $QQQ short term up-trend; Only 70 US stocks at new highs and 63 at new lows on Friday, 11 at ATH; see list of top 20 stocks that passed my weekly green bar scan and chart of $ACLS](https://wishingwealthblog.com/2023/02/blog-post-day-21-of-qqq-short-term-up-trend-only-70-us-stocks-at-new-highs-and-63-at-new-lows-on-friday-11-at-ath-see-list-of-top-20-stocks-that-passed-my-weekly-green-bar-scan-and-chart-of-acl/) - One of my favorite scans I created with TC2000 searches for a stock in a strong up-trend, at a 20 week high in relative strength vs. SPY, that reached an ATH in the past 3 months and that has bounced up off of its rising 4 week average. If I buy one of these stocks - [Blog Post: Day 19 of $QQQ short term up-trend; 11 stocks on my growth stock watchlist hit an ATH on Wednesday, $WFRD leads, see list](https://wishingwealthblog.com/2023/02/blog-post-day-19-of-qqq-short-term-up-trend-11-stocks-on-my-growth-stock-watchlist-hit-an-ath-on-wednesday-wfrd-leads-see-list/) - These stocks were on my watchlist of stocks recently on an IBD or MS list. They are sorted by current price divided by low price the past 250 days. WFRD leads, up almost 4 fold and had trading volume Wednesday 1.9x its average volume the past 50 days. - [Blog Post: Day 17 of $QQQ short term up-trend; 5 "yellow band" stocks that hit an ATH on Monday, see the list and a chart of $BWMN](https://wishingwealthblog.com/2023/02/blog-post-day-17-of-qqq-short-term-up-trend-5-yellow-band-stocks-that-hit-an-ath-on-monday-see-the-list-and-a-chart-of-bwmn/) - Those of you who have followed my blog or workshops (available at the tab on this blog) or have taken my course may remember the yellow band concept. These are advancing stocks that have closed each week above their 10 week averages for at least 10 consecutive weeks or more. The 10 week average is - [Blog Post: Day 16 of $QQQ short term up-trend; Buy $TQQQ on day 1 of this up-trend and it advanced through Friday, +29.5%, beating all but 4 of the Nasdaq 100 stocks and all but 3 of the S&P500 stocks--same incredible results again! See chart](https://wishingwealthblog.com/2023/02/blog-post-day-16-of-qqq-short-term-up-trend-buy-tqqq-on-day-1-of-this-up-trend-and-it-advanced-through-friday-29-5-beating-all-but-4-of-the-nasdaq-100-stocks-and-all-but-3-of-the-sp500-stocks/) - I confess I did buy some TQQQ at the beginning of the new QQQ short term up-trend (green arrow on chart) and posted about it, but allowed myself to get shaken out on 1/19 (red arrow) and did not buy back in. Not buying back in compounded my first mistake. I need to let my - [Blog Post: Day 15 of $QQQ short term up-trend; watching $ACLX for possible break-out from Minervini VCP, see chart](https://wishingwealthblog.com/2023/02/blog-post-day-15-of-qqq-short-term-up-trend-watching-aclx-for-possible-break-out-from-minervini-vcp-see-chart/) - One of the patterns that I learned at Mark Minervini's invaluable workshop is that of volatility contraction, or VCP. Before I learned of VCP, I would get out of a stock that had been rising when it went flat and all of the volume died out. I would get bored and think the rise was - [Blog Post: Magnificent rally, 258 US highs, 19 lows and 59 ATH! 13 at ATH are up 1.8x their yearly lows, see list](https://wishingwealthblog.com/2023/02/blog-post-magnificent-rally-258-us-highs-19-lows-and-59-ath-13-at-ath-are-up-1-8x-their-yearly-lows-see-list/) - I think the bottom is in and the market has begun a new up-trend. I am slowly reinvesting my pension money that I took out in November, 2021. All of these stocks reached an ATH on Wednesday and are up at least 1.8 x their yearly lows, see last column. Note their next earnings release - [Blog Post: Day 13 of $QQQ short term up-trend; 167 new US highs, 20 lows and 29 at ATH; see list at ATH, sorted by Close/MinLpastyr, see monthly chart of $XPOF which is up 2.5X](https://wishingwealthblog.com/2023/01/blog-post-day-13-of-qqq-short-term-up-trend-167-new-us-highs-20-lows-and-29-at-ath-see-list-at-ath-sorted-by-close-minlpastyr-see-monthly-chart-of-xpof-which-is-up-2-5x/) - These 24 stocks hit an ATH (all time high) on Tuesday. (5 of the 29 were deleted by my criteria.) The last column sorts them by the current price divided by the lowest price during the past year. Some of the best traders only like to trade stocks that have already doubled. Four of these - [Blog Post: $TITN reached an ATH on Monday and is worth monitoring, see fundamentals and daily, weekly and monthly charts](https://wishingwealthblog.com/2023/01/blog-post-titn-reached-an-ath-on-monday-and-is-worth-monitoring-see-fundamentals-and-daily-weekly-and-monthly-charts/) - TITN has an IBD comp rating=99 an EPS rating= 99, and RS= 96. On November 30 when it released earnings up +91% it had a gap up on huge volume in a GLB. It then retested the green line and broke above its 9 week base to an ATH on above average trading volume on - [Blog Post: Day Day 11 of $QQQ short term up-trend; GMI=6 (of 6) and Green; 25 stocks at ATH on Friday, see list for possible market leaders plus example charts of $BWMN and $WIRE](https://wishingwealthblog.com/2023/01/blog-post-day-day-11-of-qqq-short-term-up-trend-gmi6-of-6-and-green-25-stocks-at-ath-on-friday-see-list-for-possible-market-leaders-plus-example-charts-of-bwmn-and-wire/) - I remember long before the internet that the major media typically called a bear market bottom or bull market top about 6 months after it had occurred. It took that long for the editors to believe a major change in trend. So we cannot trust the pundits to tell us when to get in or - [Blog Post: Day 10 of $QQQ short term up-trend; See cup and handle break out of $STLD to ATH on Thursday and weekly green bar, see daily and weekly charts](https://wishingwealthblog.com/2023/01/blog-post-day-10-of-qqq-short-term-up-trend-see-cup-and-handle-break-out-of-stld-to-ath-on-thursday-and-weekly-green-bar-see-daily-and-weekly-charts/) - Volume was above the 50 day average on break-out, obscured by one huge volume day in December. Note recent GLB. It also has a weekly green bar pattern, which was picked up on my scan. See weekly chart. - [Blog Post: Two stocks that came up in my TC2000 Weekly Green Bar scan for stocks at ATH with 20 week high in RS, $WFRD and $AMLX, see weekly charts](https://wishingwealthblog.com/2023/01/blog-post-two-stocks-that-came-up-in-my-tc2000-weekly-green-bar-scan-for-stocks-at-ath-with-20-week-high-in-rs-wfrd-and-amlx-see-weekly-charts/) - Both had a recent GLB after which they consolidated for several weeks and then broke out again. All had 4wk>10wk>30wk averages, my prime pattern for advancing stocks. They also had a weekly green bar, indicating a bounce up off of the 4 week average. Stocks at new ATHs after a market decline are often the - [Blog Post: Day 8 of $QQQ short term up-trend; One set-up I like is a bounce up off of support after a recent GLB, see chart example of $TJX](https://wishingwealthblog.com/2023/01/blog-post-day-8-of-qqq-short-term-up-trend-one-set-up-i-like-is-a-bounce-up-off-of-support-after-a-recent-glb-see-chart-example-of-tjx/) - TJX came up on one of my TC2000 scans looking for a stock at a recent ATH that is bouncing off of support or oversold. TJX had a GLB (green line break-out) on November 16 and then went sideways finding support around the green line. It never closed back below the green line. Today TJX - [Blog Post: Day 7 of $QQQ short term up-trend; $DIA and $SPY 10:30 weekly charts show them in new long term up-trends, still waiting on $QQQ, see charts](https://wishingwealthblog.com/2023/01/blog-post-day-7-of-qqq-short-term-up-trend-dia-and-spy-1030-weekly-charts-show-them-in-new-long-term-up-trends-still-waiting-on-qqq-see-charts/) - Weekly 10:30 chart is a good indicator of the market's long term trend. When the 10 week average climbs above the 30 week the bear market is likely over. This has happened for DIA and SPY. However, as this chart shows, QQQ is not there yet. 10 week average is dotted line. Solid gray line - [Blog Post: Day 6 of $QQQ short term up-trend; $SPY up against resistance, see weekly chart](https://wishingwealthblog.com/2023/01/blog-post-day-6-of-qqq-short-term-up-trend-spy-up-against-resistance-see-weekly-chart/) - Will SPY close above its declining trend line? Stay tuned. - [Blog Post: Day 5 of $QQQ short term up-trend; only 46 US new highs, 45 lows and 4 ATHs; $GLD continues to shine, see up volume spikes, and flight from dollar, see charts](https://wishingwealthblog.com/2023/01/blog-post-day-5-of-qqq-short-term-up-trend-only-46-us-new-highs-45-lows-and-4-aths-gld-continues-to-shine-see-up-volume-spikes-and-flight-from-dollar-see-charts/) - Note the black volume spikes (up days) since November. Are institutions running to gold for fear of US default? And fleeing the dollar. - [Blog Post: Day 4 of $QQQ short term up-trend; But many break-downs; Very defensive, see chart of $DIA](https://wishingwealthblog.com/2023/01/blog-post-day-4-of-qqq-short-term-up-trend-but-many-break-downs-very-defensive-see-chart-of-dia/) - Back in cash for now. Even sold my TQQQ. DIA looking weak. Too many break-downs. - [Blog Post: Day 3 of $QQQ short term up-trend, see daily chart](https://wishingwealthblog.com/2023/01/blog-post-day-3-of-qqq-short-term-up-trend-see-daily-chart/) - The bottom seems to be holding and the 8 EMA (dotted line) is now above the 21 EMA on this daily chart. Will it hold or break down like it did in December? Only time will tell. - [Blog Post: GMI turns GREEN and Day 2 of $QQQ short term up-trend; How I trade a GLB (green line breakout), 2 examples: $ACLX, $AGYS](https://wishingwealthblog.com/2023/01/blog-post-gmi-turns-green-and-day-2-of-qqq-short-term-up-trend-how-i-trade-a-glb-green-line-breakout-2-examples-aclx-agys/) - With its second consecutive day above 3, the GMI flashes a Green signal. Set-ups are beginning to work out. However, I am much more confident of the market's new up-trend when the GMI=6. But it may take a while for the remaining 2 components of the GMI to turn positive. However, with the QQQ short - [Blog Post: Day 1 of new $QQQ short term up-trend; Many break-outs occurring, 28 US stocks at ATHs; market bottom may be in?](https://wishingwealthblog.com/2023/01/blog-post-day-1-of-new-qqq-short-term-up-trend-many-break-outs-occurring-28-us-stocks-at-aths-market-bottom-may-be-in/) - With a new QQQ short term up-trend in place, I bought a little TQQQ. I will add to my position if this up-trend lasts 5 days. This weekly chart shows that QQQ has held its October bottom, at least for now. And its 30 week average (red solid line) is leveling off. This market may - [Blog Post: Day 17 of $QQQ short term down-trend, may end on Thursday; Dow stock $CAT holding recent GLB, see monthly and daily charts](https://wishingwealthblog.com/2023/01/blog-post-day-17-of-qqq-short-term-down-trend-may-end-on-thursday-dow-stock-cat-holding-recent-glb-see-monthly-and-daily-charts/) - I draw a green line on a monthly chart at a peak price that is not exceeded for at least 3 months. When it eventually closes above the green line it is a GLB, or green line break-out. Think of it as a stock that reaches an all-time high (ATH), rests, and then breaks out - [Blog Post: Day 16 of $QQQ short term down-trend; 1st five days of January rule suggests an up market for 2023; but Santa's $ELF gets pummeled, see daily chart and red dots](https://wishingwealthblog.com/2023/01/blog-post-day-16-of-qqq-short-term-down-trend-1st-five-days-of-january-rule-suggests-an-up-market-for-2023-but-santas-elf-gets-pummeled-see-daily-chart-and-red-dots/) - There is a rule that if the major market indexes close the first 5 days of the year up it suggests an up market for the year, and a decline suggests a down market. Last year the major indexes closed down but I saw no media pundits referring to this signal as predicting a down - [Blog Post: Day 14 of $QQQ short term down-trend, but 120 US new highs, 82 lows and 27 at ATHs, see these lists, GMI still Red](https://wishingwealthblog.com/2023/01/blog-post-day-14-of-qqq-short-term-down-trend-but-120-us-new-highs-82-lows-and-27-at-aths-see-these-lists-gmi-still-red/) - We are now into the earnings season bounce. Many stocks hit ATHs on Friday. Here are the 16 ATHS on my IBD/MS watch list, sorted by earnings please date. The following subset had a GLB (green line break-out to ATH after a minimum 3 month consolidation) last week: TRV, CAT, CB, IRDM, LW. This list - [Blog Post: Unlike US stocks, China stocks are entering Stage 2 up-trends, post lock-down recovery? See weekly charts of $GXC and $KWEB](https://wishingwealthblog.com/2023/01/blog-post-unlike-us-stocks-china-stocks-are-entering-stage-2-up-trends-post-lock-down-recovery-see-weekly-charts-of-gxc-and-kweb/) - I happened to notice that BIDU and BABA had strong advances on Wednesday. So I looked at my watchlist of world stock ETFs and was amazed to find so many China ETFs above their 30 week averages and maybe beginning Stage 2 up-trends. Here are just two of many examples. Note the huge volume on - [Blog Post: Day 11 of $QQQ short term down-trend; GOLD ($GLD) and silver ($SLV) are making a come back, see daily RWB up-trend patterns](https://wishingwealthblog.com/2023/01/blog-post-day-11-of-qqq-short-term-down-trend-gold-gld-and-silver-slv-are-making-a-come-back-see-daily-rwb-up-trend-patterns/) - [Blog Post: Day 10 of $QQQ short term down-trend and GMI still Red; $NVO, maker of obesity drug, Wegovy, barrels ahead to close at ATH after recent GLB--60 Minutes story to propel it higher?](https://wishingwealthblog.com/2023/01/blog-post-day-10-of-qqq-short-term-down-trend-and-gmi-still-red-nvo-maker-of-obesity-drug-wegovy-barrels-ahead-to-close-at-ath-after-recent-glb-60-minutes-story-to-propel-it-higher/) - On Sunday, 60 Minutes had a feature story about how obesity is being increasingly seen as a medical condition that can be treated by the new generation of drugs for diabetes that reduce weight considerably. These drug injections are very expensive and not covered by most medical insurance for treating obesity. Hollywood stars are most - [Blog Post: Day 9 of $QQQ short term down-trend; GLBs often fail in market down-trends--$CALM is a prime example we can learn from](https://wishingwealthblog.com/2022/12/blog-post-day-9-of-qqq-short-term-down-trend-glbs-often-fail-in-market-down-trends-calm-is-a-prime-example-we-can-learn-from/) - I have often taught that the same set-ups that work beautifully for me in a rising market can fail miserably in a declining market. Model books of rising stocks can be very misleading because, by definition, most set-ups worked for these winners. With these model stocks that rise for months one could just buy every - [Blog Post: Day 8 of $QQQ short term down-trend; Hourly chart shows $TLT, 20 yr treasury bonds, to be in BWR down-trend, indicating higher rates](https://wishingwealthblog.com/2022/12/blog-post-day-8-of-qqq-short-term-down-trend-hourly-chart-shows-tlt-20-yr-treasury-bonds-to-be-in-bwr-down-trend-indicating-higher-rates/) - [Blog Post: Day 7 of $QQQ short term down-trend; 122 US new highs and 518 lows; What a Stage 4 decline looks like; $TSLA](https://wishingwealthblog.com/2022/12/blog-post-day-7-of-qqq-short-term-down-trend-122-us-new-highs-and-518-lows-what-a-stage-4-decline-looks-like-tsla/) - NEVER hold a stock in Stage 4! Anytime a stock closes below its 30 week average (red solid line) I exit. - [Blog Post: Day 5 of $QQQ short term down-trend; 99 new US highs and 529 lows; Cash is a nice position, see weekly chart of $QQQ](https://wishingwealthblog.com/2022/12/blog-post-day-5-of-qqq-short-term-down-trend-99-new-us-highs-and-529-lows-cash-is-a-nice-position-see-weekly-chart-of-qqq/) - Watched Fast Money tonight and all pundits were very bearish. They pretend they have been telling people to be bearish all year. Of course they were not. They continued to pitch stocks to buy when people should be on the sidelines. There will be plenty of time to go long once the trend really changes. - [Blog Post: Day 3 of $QQQ short term down-trend; 102 new US yearly highs and 483 lows, 3 ATHs; $WFRD at ATH and showing strength after recent GLB, see daily chart](https://wishingwealthblog.com/2022/12/blog-post-day-3-of-qqq-short-term-down-trend-102-new-us-yearly-highs-and-483-lows-3-aths-wfrd-at-ath-and-showing-strength-after-recent-glb-see-daily-chart/) - One of the only stocks hitting repeated ATHs is WFRD. It has great fundamentals, going from no earnings in 2021 to an estimated +.22 in 2022 and 3.00 in 2023. It is also in the oil and gas drilling support business. It has a comp rating=96 and RS=98, according to MarketSmith. WFRD has emerged from - [Blog Post: Day 1 of $QQQ short term down-trend; GMI=0 and turns Red; Best to hold cash and receive income form money market funds; I agree with this wise quote from Nicolas Darvas](https://wishingwealthblog.com/2022/12/blog-post-day-1-of-qqq-short-term-down-trend-gmi0-and-turns-red-best-to-hold-cash-and-receive-income-form-money-market-funds-i-agree-with-this-wise-quote-from-nicolas-darvas/) - My attempts to nibble at a few things the past few weeks have not worked out. Break-outs have been failing. During past significant market declines I waited to ge back in until the key indexes climbed above their 30 week averages and the average curved up. There was plenty of time to profit once that - [Blog Post: 85 new US highs and 391 lows on Thursday; $QQQ short term up-trend likely to end and GMI to turn RED with Friday's close; Retest of October lows coming? Moving to 100% cash, see weekly chart in Stage 4 down-trend](https://wishingwealthblog.com/2022/12/blog-post-85-new-us-highs-and-391-lows-on-thursday-qqq-short-term-up-trend-likely-to-end-and-gmi-to-turn-red-with-fridays-close-retest-of-october-lows-coming-moving-to-100-cash-see-weekly-char/) - My indicators have turned extremely negative. I was stopped out of all of my very small positions in my trading account on Thursday. Without a miraculous strong up day on Friday, it appears that there will be at least a retest of the October lows. Cash is king, especially with the nice returns on brokerage - [Bog Post: Day 23 of $QQQ short term up-trend; 112 new US highs and 254 lows, 7 at ATH; Watching $ACLX after GLB, see weekly chart](https://wishingwealthblog.com/2022/12/bog-post-day-23-of-qqq-short-term-up-trend-112-new-us-highs-and-254-lows-7-at-ath-watching-aclx-after-glb-see-weekly-chart/) - This weekly chart shows ACLX rising to ATH on above average volume. It is a recent IPO and someone must think it is promising. This stock is worth researching. It is collaborating with Gilead on a treatment for multiple myeloma. - [Blog Post: Day 21 of $QQQ short term up-trend; Suspected oversold bounce occurred, see yesterday's post; will it hold this week?](https://wishingwealthblog.com/2022/12/blog-post-day-21-of-qqq-short-term-up-trend-suspected-oversold-bounce-occurred-see-yesterdays-post-will-it-hold-this-week/) - I wrote yesterday that the indexes were at oversold levels where they typically bounce. Let's see if the Fed takes away the punch bowl...... - [Blog Post: Day 20 of $QQQ short term up-trend; Markets are on a precipice but at oversold levels that often lead to a rise, stay tuned this critical week](https://wishingwealthblog.com/2022/12/blog-post-day-20-of-qqq-short-term-up-trend-markets-are-on-a-precipice-but-at-oversold-levels-that-often-lead-to-a-rise-stay-tuned-this-critical-week/) - This week will be very volatile and tell me whether the October bottom will hold. Among US stocks on Friday, there were 86 yearly highs and 245 lows. Only 14 stocks reached an ATH (all-time-high). On the plus side, SPY and DIA are still above their 30 week averages. But QQQ is below its falling - [Blog Post: Day 19 of $QQQ short term up-trend; Indexes survive test of 30 day average and bounce from oversold; $DXCM breaks out after VCP, see chart](https://wishingwealthblog.com/2022/12/blog-post-day-19-of-qqq-short-term-up-trend-indexes-survive-test-of-30-day-average-and-bounce-from-oversold-dxcm-breaks-out-to-ath-after-vcp-see-chart/) - Note strong volume Thursday and likely VCP. Green line top is at $164.86 - [Blog Post: Day 17 of $QQQ short term up-trend; 81 new US highs, 326 lows; $QQQ and $SPY return to their key 30 day moving averages but are also very oversold--will they hold Wednesday?](https://wishingwealthblog.com/2022/12/blog-post-day-17-of-qqq-short-term-up-trend-81-new-us-highs-326-lows-qqq-and-spy-return-to-their-key-30-day-moving-averages-but-are-also-very-oversold-will-they-hold-wednesday/) - SPY and QQQ have become very oversold and are right on their key rising 30 day averages. Wednesday's action should tell me whether they will hold. If not, the QQQ short term up-trend could end Thursday. This chart shows today's price hitting the 30 day average (red solid line). The same is true of SPY. - [Blog Post: Day 15 of $QQQ short term up-trend; Time for me to buy? See my TC2000 scan for finding stocks gapping up on extreme volume, $TMDX and $TMUS are examples, see charts](https://wishingwealthblog.com/2022/12/blog-post-day-15-of-qqq-short-term-up-trend-time-for-me-to-buy-see-my-tc2000-scan-for-finding-stocks-gapping-up-on-extreme-volume-tmdx-and-tmus-are-examples-see-charts/) - I know my readers realize that I have been learning to trade and invest since the 1960s. Having survived many of the vicious declines ( I missed the one in 1962, but I remember the significant declines in 1987, 2000, 2007, 2020 and 2022). I have learned a few things. First, get out when the - [Blog Post: Day 14 of $QQQ short term up-trend; 199 US new highs and 84 lows and 53 at ATH; Accumulating longs, Stage 4 down-trends in indexes likely ending](https://wishingwealthblog.com/2022/12/blog-post-day-14-of-qqq-short-term-up-trend-199-us-new-highs-and-84-lows-and-53-at-ath-accumulating-longs-stage-4-down-trends-in-indexes-likely-ending/) - I am finding so many stocks to buy! We must focus on the current movement of the market and ignore the noise from the news and media pundits. I am slowly starting to reinvest my university pension accounts into mutual funds. I had transferred to money market funds in November, 2021. It is important to - [Blog Post: GMI turns 6 (of 6) for first time since August 18 as $QQQ closes back above 30 week average! See list of 22 IBD/MS stocks at ATH, 10 of which had a GLB, see daily chart of $TRV](https://wishingwealthblog.com/2022/11/blog-post-gmi-turns-6-of-6-for-first-time-since-august-18-as-qqq-closes-back-above-30-week-average-see-list-of-22-ibd-ms-stocks-at-ath-4-of-which-had-a-glb-see-daily-chart-of-trv/) - These are stocks on my watchlist of stocks recently on an IBD or MarketSmith list that reached an ATH on Wednesday. Of these, the following had a GLB or retook their green line on Wednesday: FN, ACHC, TRV, ABC, HALO, PFGC, CTAS, TITN, CB, JBL Note the volume on TRV. - [Blog Post: 95 US new highs and 186 lows, only 7 at ATH; $HALO holds green line Tuesday, see daily chart](https://wishingwealthblog.com/2022/11/blog-post-95-us-new-highs-and-186-lows-only-7-at-ath-halo-holds-green-line-tuesday-see-daily-chart/) - But be extra careful. Few stocks hold ATHs these days. - [Blog Post: 130 US new highs and 193 lows; In a tough market, $HALO has GLB on above average volume--worth monitoring, see daily chart](https://wishingwealthblog.com/2022/11/blog-post-130-us-new-highs-and-193-lows-in-a-tough-market-halo-has-glb-on-above-average-volume-worth-monitoring-see-daily-chart/) - Note the recent volume spikes. The green line peak was set February, 2021 at 56.40. See if it can stay above that price. - [Blog Post: Day 11 of $QQQ short term up-trend; Last week $STLD had a GLB and a weekly green bar--worth monitoring, see also $PI](https://wishingwealthblog.com/2022/11/blog-post-day-11-of-qqq-short-term-up-trend-last-week-stld-had-a-glb-and-a-weekly-green-bar-worth-monitoring-see-also-pi/) - Weekly green bar is drawn on a weekly chart when the stock had 4wk>10wk>30wk average and bounced up off of the rising 4 week average (pink dotted line). If I owned STLD I would place a stop just below last week's low of 99.77 or sell if it closed back below its green line (at - [Blog Post: Day 9 of $QQQ short term up-trend; $SPY has is likely to close above its critical 30 week average for the third week--end of Stage 4 decline? See chart.](https://wishingwealthblog.com/2022/11/blog-post-day-9-of-qqq-short-term-up-trend-spy-has-is-likely-to-close-above-its-critical-30-week-average-for-the-third-week-end-of-stage-4-decline-see-chart/) - This weekly chart looks promising as the 30 week average (red solid line) is about to curve up. This is a prime signal for me to begin tiptoeing into the market again. If SPY closes back below the 30 week average I will quickly exit. - [Blog Post: Day 8 of $QQQ short term up-trend; part of the market is showing signs of strength; see $DIA and $SPY in daily RWB up-trends, leaving $QQQ behind, read my rationale...](https://wishingwealthblog.com/2022/11/blog-post-day-8-of-qqq-short-term-up-trend-part-of-the-market-is-showing-signs-of-strength-see-dia-and-spy-in-daily-rwb-up-trends-leaving-qqq-behind-read-my-rationale/) - It has been my impression that after a scary market decline, people are more risk adverse and first seek out the big name large cap stocks to invest in. Once they profit from these trades they feel more comfortable buying the more risky growth stocks. This may be why the DIA and SPY are looking - [Blog Post: Day 7 of $QQQ short term up-trend; 120 US new highs and 246 lows; $STLD retakes green line and hits ATH, see daily chart, also of $TMDX](https://wishingwealthblog.com/2022/11/blog-post-day-7-of-qqq-short-term-up-trend-120-us-new-highs-and-246-lows-stld-retakes-green-line-and-hits-ath-see-daily-chart-also-of-tmdx/) - $STLD has been holding up well after its GLB (green line break-out) last week. Note how it is tracking its 8 exponential moving average (dotted line). Note the bounce up off of that average on Monday. If I bought it, I would place my stop below Monday's low or sell if it closes below the - [Blog Post: Day 6 of $QQQ short term up-trend within a longer term down-trend; Critical week coming up for $QQQ, which is between the rising 4 wk avg and the declining 30 wk avg, see weekly chart](https://wishingwealthblog.com/2022/11/blog-post-day-6-of-qqq-short-term-up-trend-within-a-longer-term-down-trend-critical-week-coming-up-for-qqq-which-is-between-the-rising-4-wk-avg-and-the-declining-30-wk-avg-see-weekly-chart/) - The 4 wk avg is the pink dotted line and the 30 wk avg is the red solid line. Note that last week QQQ was sandwiched in between these two averages. The rising 4 wk avg above the 10 wk avg (purple dotted line) is a positive sign. A close this week above the 30 - [Blog Post: Day 5 of $QQQ short term up-trend; 72 US new highs and 201 lows; $T2108 <10% may have suggested market bottom yet again, see monthly chart](https://wishingwealthblog.com/2022/11/blog-post-day-5-of-qqq-short-term-up-trend-72-us-new-highs-and-201-lows-t2108/) - When T2108 declines to - [Blog Post: Day 4 of $QQQ short term up-trend; 98 new US highs and 160 lows; $CASY had recent GLB and is at another ATH, see daily chart](https://wishingwealthblog.com/2022/11/blog-post-day-4-of-qqq-short-term-up-trend-98-new-us-highs-and-160-lows-casy-had-recent-glb-and-is-at-another-ath-see-daily-chart/) - I am slowly accumulating TQQQ as QQQ short term up-trend persists. Meanwhile CASY seems strong. - [Blog Post: Day 3 of $QQQ short term up-trend; 131 US new highs and 96 lows; $GLD retakes 30 week average as $UUP loses it, see weekly charts](https://wishingwealthblog.com/2022/11/blog-post-day-3-of-qqq-short-term-up-trend-131-us-new-highs-and-96-lows-gld-retakes-30-week-average-as-uup-loses-it-see-weekly-charts/) - Gold (GLD) revives as dollar (UUP) plummets. - [Blog Post: Day 2 of $QQQ short term up-trend; 97 new US highs and 76 lows; $STLD and $IMCR have GLBs, see daily charts](https://wishingwealthblog.com/2022/11/blog-post-day-2-of-qqq-short-term-up-trend-97-new-us-highs-and-76-lows-stld-and-imcr-have-glbs-see-daily-charts/) - Hi volume and cup and handle! - [Blog Post: New $QQQ short term up-trend; GMI= 5 and remains on a Green signal since 10/26; Can 10wk average retake 30 wk? See weekly 10:30 charts of $QQQ and $DIA](https://wishingwealthblog.com/2022/11/blog-post-new-qqq-short-term-up-trend-gmi-5-and-remains-on-a-green-signal-since-10-26-can-10wk-average-retake-30-wk-see-weekly-1030-charts-of-qqq-and-dia/) - I will be looking for a true change in the market's trend when the 10 week average (blue dotted line) retakes the 30 week average (red solid line) and the 30 week average turns up. Until then, I am less confident of a true change in the longer term trend of QQQ or DIA. The - [Blog Post: GMI stays Green; $QQQ short term down-trend may end Friday; 181 US new highs and 166 lows; $ALB and $CASY advance after recent GLBs, see charts](https://wishingwealthblog.com/2022/11/blog-post-gmi-stays-green-qqq-short-term-down-trend-may-end-friday-181-us-new-highs-and-166-lows-alb-and-casy-advance-after-recent-glbs-see-charts/) - [Blog Post: Day 5 of $QQQ short term down-trend; GMI=2, could turn Red Thursday; 96 US new highs and 513 lows; $QQQ and $ARKK in ominous weekly BWR down-trends, see charts](https://wishingwealthblog.com/2022/11/blog-post-day-5-of-qqq-short-term-down-trend-gmi2-could-turn-red-thursday-96-us-new-highs-and-513-lows-qqq-and-arkk-in-ominous-weekly-bwr-down-trends-see-charts/) - [Blog Post: Day 4 of $QQQ short term down-trend; $ALB retakes green line on above average volume, see chart](https://wishingwealthblog.com/2022/11/blog-post-day-4-of-qqq-short-term-up-trend-alb-retakes-green-line-on-above-average-volume-see-chart/) - [Blog Post: 146 US new highs and 258 lows; Day 3 of $QQQ short term down-trend; $AMGN has GLB, see chart](https://wishingwealthblog.com/2022/11/blog-post-146-us-new-highs-and-258-lows-day-3-of-qqq-short-term-down-trend-amgn-has-glb-see-chart/) - [Blog Post: Day 2 of $QQQ short term down-trend; GMI=3, remains Green; 143 new US highs and 386 lows; $QQQ remains in Stage 4 decline, see weekly chart](https://wishingwealthblog.com/2022/11/blog-post-day-2-of-qqq-short-term-down-trend-gmi3-remains-green-143-new-us-highs-and-386-lows-qqq-remains-in-stage-4-decline-see-weekly-chart/) - This weekly chart shows QQQ remains in a Stage 4 down-trend. Beware! The GMI=3 and remains Green. - [Blog Post: Day 1 of new $QQQ short term down-trend; GMI=2, may flash RED Friday; 92 new US highs, 393 lows, 22 at ATH; $HRMY has GLB, see weekly chart](https://wishingwealthblog.com/2022/11/blog-post-day-1-of-new-qqq-short-term-down-trend-gmi2-may-flash-red-friday-92-new-us-highs-393-lows-22-at-ath-hrmy-has-glb-see-weekly-chart/) - [Blog Post: 147 new US highs, 238 lows and 40 ATHs; 7 stocks up today on their highest volume in the past 20 days: $NFE, $FMC, $MCK, $PSN, $NBIX, $BDC, $SMCI](https://wishingwealthblog.com/2022/11/blog-post-147-new-us-highs-238-lows-and-40-aths-7-stocks-up-today-on-their-highest-volume-in-the-past-20-days-nfe-fmc-mck-psn-nbix-bdc-smci/) - Here is the list. Note all had volume more than twice their 50 day average volume. Last column is close/close 250 days ago. These stocks are worth watching although some closed near their low price of the day. - [Blog Post: Day 6 of $QQQ short term up-trend, could end Wednesday; 181 new US highs, 135 lows and 59 at ATH; $MPC has GLB, see chart](https://wishingwealthblog.com/2022/11/blog-post-day-6-of-qqq-short-term-up-trend-could-end-wednesday-181-new-us-highs-135-lows-and-59-at-ath-mpc-has-glb-see-chart/) - [Blog Post: Day 5 of $QQQ short term up-trend; 191 new US highs, 129 lows and 70 ATHs; see list of 15 stocks at ATH with volume up 40%+](https://wishingwealthblog.com/2022/10/blog-post-day-5-of-qqq-short-term-up-trend-191-new-us-highs-129-lows-and-70-aths-see-list-of-15-stocks-at-ath-with-volume-up-40/) - These are stocks on my recent IBD/MarketSmith watchlists that reached an ATH today on volume at least > 40% above average. They are sorted by volume/avg vol last 50 days. Note earnings dates. Many had a recent GLB. - [Blog Post: GMI=Green and Monday is Day 5 of new $QQQ short term up-trend.](https://wishingwealthblog.com/2022/10/blog-post-gmigreen-and-monday-is-day-5-of-new-qqq-short-term-up-trend/) - I am nibbling on TQQQ and will accumulate more if the new short term up-trend persists. Fed to meet this week and volatility may be high. I am recovering from Covid and keeping it brief tonight. - [Blog Post: Today is Day 4 of new $QQQ short term up-trend; GMI turned Green on October 26. see my class poll on sentiment on QQQ](https://wishingwealthblog.com/2022/10/blog-post-today-is-day-4-of-new-qqq-short-term-up-trend-gmi-turned-green-on-october-26-see-my-class-poll-on-sentiment-on-qqq/) - Shown in this daily chart of QQQ is the percentage bullish on QQQ based on a weekly poll of my freshmen class of 123 students. They are learning how a contrarian indicator functions. - [Blog Post: Day1 of new $QQQ short term up-trend; GMI may turn Green on Wednesday, but still in Stage 4 down-trend, see weekly chart](https://wishingwealthblog.com/2022/10/blog-post-day1-of-new-qqq-short-term-up-trend-gmi-may-turn-green-on-wednesday-but-still-in-stage-4-down-trend-see-weekly-chart/) - [Blog Post: After 40 days, $QQQ short term down-trend may end Tuesday; 111 new US highs and 357 lows; $VRTX and $ORLY have GLBs, see charts](https://wishingwealthblog.com/2022/10/blog-post-after-40-days-qqq-short-term-down-trend-may-end-tuesday-111-new-us-highs-and-357-lows-vrtx-and-orly-have-glbs-see-charts/) - [Blog Post: Day 39 of $QQQ short term down-trend; IBD switches to market in confirmed up-trend but GMI still Red; 10 promising stocks at ATHs: $INSW,$LLY,$MRK,$CI,$COP,$CDRE,$NOC,$XOM,$BAH,$SGML](https://wishingwealthblog.com/2022/10/blog-post-day-39-of-qqq-short-term-down-trend-ibd-switches-to-market-in-confirmed-up-trend-but-gmi-still-red-10-promising-stocks-at-aths-inswllymrkcicopcdrenocxombahsgml/) - Friday was considered to be a follow through day, FTD, as defined by William O'Neil. An FTD is necessary but not sufficient for a new bull market to begin-- every new bull starts after a FTD but not every FTD leads to a new bull market. There have been several failed FTDs lately. So we - [Blog Post: 79 US new highs and 353 new lows; 20 yr treasury bonds continue to sink, $TLT in weekly BWR down-trend](https://wishingwealthblog.com/2022/10/blog-post-79-us-new-highs-and-353-new-lows-20-yr-treasury-bonds-continue-to-sink-tlt-in-weekly-bwr-down-trend/) - Weekly BWR down-trend. - [Blog Post: Day 37 of $QQQ short term down-trend; Hard to believe, but $XOM is approaching GLB, see weekly chart](https://wishingwealthblog.com/2022/10/blog-post-day-37-of-qqq-short-term-down-trend-hard-to-believe-but-xom-is-approaching-glb-see-weekly-chart/) - A close above 104.61 would be a green line break-out (GLB) to an all-time high. See if it does so on above average trading volume. Comp rating= 99, RS=97 - [Blog Post: 98 new US highs and 114 lows; $SPY has hourly RWB up-trend, see chart](https://wishingwealthblog.com/2022/10/blog-post-98-new-us-highs-and-114-lows-spy-has-hourly-rwb-up-trend-see-chart/) - So do DIA and QQQ. - [Blog Post: Day 35 of $QQQ short term down-trend; 89 US new highs and 177 lows; Recent GLB, $ELF hitting ATH on above average volume, see daily and monthly charts](https://wishingwealthblog.com/2022/10/blog-post-day-35-of-qqq-short-term-down-trend-89-us-new-highs-and-177-lows-recent-glb-elf-hitting-ath-on-above-average-volume-see-daily-and-monthly-charts/) - [Blog Post: Day 34 of $QQQ short term down-trend; $INSW hits another ATH, see daily and weekly charts](https://wishingwealthblog.com/2022/10/blog-post-day-34-of-qqq-short-term-down-trend-insw-hits-another-ath-see-daily-and-weekly-charts/) - This daily chart shows the 8 ema (dotted line) and 21 ema. Note that the 8 crossed above the 21 last July and has remained above it since. This crossover could be a potential set-up as long as the stock is in a Stage 2 up-trend, which the weekly chart confirms. Note the weekly chart - [Blog Post: 70 US new highs and 1008 new lows; Some promising stocks at all-time-highs Thursday: $LPLA, $AMLX, $INSW, $CI, $SGML, see weekly charts.](https://wishingwealthblog.com/2022/10/blog-post-70-us-new-highs-and-1008-new-lows-some-promising-stocks-at-all-time-highs-thursday-lpla-amlx-insw-ci-sgml-see-weekly-charts/) - No one knows whether today's bounce will hold. However, stocks at ATH could turn out to be leaders. LPLA has held up well the past few weeks. Here is the weekly chart.It has a weekly green bar. I place my stops below the low of the week with a green bar. As does AMLX and - [Blog Post: Day 32 of $QQQ short term down-trend; $T2108 hit 7.97% in late September, is that the market's low?](https://wishingwealthblog.com/2022/10/blog-post-day-32-of-qqq-short-term-down-trend-t2108-hit-7-97-in-late-september-is-that-the-markets-low/) - [Blog Post: Day 31 of $QQQ short term down-trend; Recent IPO $SGML already a 4 bagger, staying strong](https://wishingwealthblog.com/2022/10/blog-post-day-31-of-qqq-short-term-down-trend-recent-ipo-sgml-already-a-4-bagger-staying-strong/) - SGML, a lithium producer, keeps coming up on my scans. This week it came up on my weekly green bar scan. Note the green price bar on this chart indicating a bounce up off of its 4 week average. It also has relative strength at a new high. As long as it holds its 10 - [Blog Post: Rising interest rates leads to a stronger dollar which depresses gold price: $GLD remains in weekly BWR down-trend, see chart](https://wishingwealthblog.com/2022/10/blog-post-rising-interest-rates-leads-to-a-stronger-dollar-which-depresses-gold-price-gld-remains-in-weekly-bwr-down-trend-see-chart/) - [Blog Post: The decline in $SPY is small compared with those in 2000 and 2008, and the monthly stochastic is nowhere as oversold as occurred at major bottoms, see monthly chart](https://wishingwealthblog.com/2022/10/blog-post-the-decline-in-spy-is-small-compared-with-those-in-2000-and-2008-and-the-monthly-stochastic-is-nowhere-as-oversold-as-occurred-at-major-bottoms-see-monthly-chart/) - This is a monthly chart with a 25.4 and 25.4.4 stochastic. The 25.4 stochastic is currently at 39.04, but the 2003 and 2009 bottoms occurred with readings below 20. This down-trend actually appears minor compared with those declines and may have a ways to go. Why try to guess a bottom or catch a falling - [Blog Post: Day 28 of $QQQ short term down-trend; 54 US new highs and 197 new lows; long bonds, $TLT, remain in BWR daily down-trend as Fed raises short rates, see charts](https://wishingwealthblog.com/2022/10/blog-post-day-28-of-qqq-short-term-down-trend-54-us-new-highs-and-197-new-lows-long-bonds-tlt-remain-in-bwr-daily-down-trend-as-fed-raises-short-rates-see-charts/) - Long rates continue to rise as 20+ year treasury bonds fall. As the Fed raises short rates. - [Blog Post: Day 27 of $QQQ short term down-trend; 59 new US highs and 149 lows; Weekly chart suggests $REGN breaking out of a rare flag pattern towards ATH](https://wishingwealthblog.com/2022/10/blog-post-day-27-of-qqq-short-term-down-trend-59-new-us-highs-and-149-lows-weekly-chart-suggests-regn-breaking-out-of-a-rare-flag-pattern-towards-ath/) - When a stock breaks out of a flag formation its rise typically is as large as the flag pole. That could imply a $150 move up for REGN to around $900. In early September, REGN released strong findings for their drug, Eylea. - [Blog Post: Only 66 new yearly lows among US stocks, the lowest since September 12; $LPLA, $HUBB, $AZPN and $DGII reach ATHs, see daily charts.](https://wishingwealthblog.com/2022/10/blog-post-only-66-new-yearly-lows-among-us-stocks-the-lowest-since-september-12-lpla-hubb-azpn-and-dgii-reach-aths-see-daily-charts/) - [Blog Post: Day 25 of $QQQ short term down-trend; See my new way to scan for stocks near their recent ATH and GLB: $DGII](https://wishingwealthblog.com/2022/10/blog-post-day-25-of-qqq-short-term-down-trend-see-my-new-way-to-scan-for-stocks-near-their-recent-ath-and-glb-dgii/) - If you check out my TraderLion 2022 presentation you will find that I made the case that most of the stocks that Bill O'Neil graphed as among his greatest winners were stocks that had bases at or approaching their all-time-highs (ATH). If you want to ride a stock to the moon one needs to get - [Blog Post: 25 new US highs and 588 new lows on Friday, down from 888 on Thursday; $SPY heading down to trend channel line I drew months ago? See weekly chart](https://wishingwealthblog.com/2022/10/blog-post-25-new-us-highs-and-588-new-lows-on-friday-down-from-888-on-thursday-spy-heading-down-to-trend-channel-line-i-drew-months-ago-see-weekly-chart/) - I drew this lower trend channel line (thank you Vas!) months ago and suggested that SPY may decline to hit it again, right at the last green line break-out. This is a weekly chart. Note the blue arrow in the volume section. That high volume decline was one of the factors that got me out - [Blog Post: 13 US new highs and 888 new lows; 1 ATH; p/c ratio=1.14; more bears than bulls again; they finally shot the general--$AAPL, see charts](https://wishingwealthblog.com/2022/09/blog-post-13-us-new-highs-and-888-new-lows-1-ath-p-c-ratio1-14-more-bears-than-bulls-again-they-finally-shot-the-general-aapl-see-charts/) - AAPL closed below its last green line break-out (GLB) top. Note the above average volume. Monthly chart. - [Blog Post: Only 348 new US lows, 70% of US stocks advanced and 96% of NASDAQ100 stocks; High put/call ratio and low $T2108 signaled this bounce](https://wishingwealthblog.com/2022/09/blog-post-only-348-new-us-lows-70-of-us-stocks-advanced-and-96-of-nasdaq100-stocks-high-put-call-ratio-and-low-t2108-signaled-this-bounce/) - When T2108 falls below 10% the market tends to bounce. Look at low level in June and this week. - [Blog Post: $T2108 hits 7.97 intraday; p/c ratio=1.04; 23 new US highs and 945 new lows; 20 year treasuries, $TLT, continue their stage 4 down-trend, see weekly chart](https://wishingwealthblog.com/2022/09/blog-post-t2108-hits-7-97-intraday-p-c-ratio1-04-23-new-us-highs-and-945-new-lows-20-year-treasuries-tlt-continue-their-stage-4-down-trend-see-weekly-chart/) - Note how TLT rides the 4 wk acerage down (red dotted line). - [Blog Post: 1,106 new yearly US lows and 12 new highs; put/call ratio EXTREME at 1.26, $GNRC showing strength in stormy seas, see daily chart](https://wishingwealthblog.com/2022/09/blog-post-1106-new-yearly-us-lows-and-12-new-highs-put-call-ratio-extreme-at-1-26-gnrc-showing-strength-in-stormy-seas-see-daily-chart/) - With a p/c ratio of 1.26 the market will likely bounce. I am watching GNRC for a short term rally. GNRC, the generator maker, usually rises when the US is hit with a hurricane and has shown good relative strength the past 2 days. Look at the volume on Friday and Monday as it rose - [Blog Post: Market stats are similar to what occurred at June low: 1,374 new yearly US lows vs. 1,394 at June low, 81 Nasdaq 100 stocks with oversold daily 10.4 stochastics vs 85; T2108 = 12 now vs 11; P/C ratio= 1.08 vs. 1.17, but reached a more extreme 1.27 days before June bottom, see charts for trend](https://wishingwealthblog.com/2022/09/blog-post-market-stats-are-similar-to-what-occurred-at-june-low-1374-new-yearly-us-lows-vs-1394-at-june-low-81-nasdaq-100-stocks-with-oversold-daily-10-4-stochastics-vs-85-t2108-12-now-vs-11/) - Friday's indicators are very close to what occurred last June 16 when the QQQ bottomed and began a large rally. Will we get another tradable rally or will QQQ decline to hit that lower trend channel line or something else? No one knows but stocks often bounce during earnings season. These charts reveal the trend. - [Blog Post: 1,011 new yearly lows for US stocks on Thursday; I am so sorry for those well meaning but uninformed people who did not exit this market more than 9 months ago when the technicals signaled trouble. This quote from Jesse Livermore says it all.](https://wishingwealthblog.com/2022/09/blog-post-1011-new-yearly-lows-for-us-stocks-on-thursday-i-am-so-sorry-for-those-well-meaning-but-uninformed-people-who-did-not-exit-this-market-more-than-9-months-ago-when-the-technicals-signaled/) - "Finally there came the awful day of reckoning for the bulls and the optimists and the wishful thinkers and those vast hordes that, dreading the pain of a small loss at the beginning, were now about to suffer total amputation-without anesthetics." This quote appears in this slide which I will show my students tomorrow. It - [Blog Post: GMI back to zero, 595 new yearly US lows, most since last June; $QQQ's Stage 4 Down-trend Continues, see weekly chart; Don't fight Mr. Market or the Fed](https://wishingwealthblog.com/2022/09/blog-post-gmi-back-to-zero-595-new-yearly-us-lows-most-since-last-june-qqqs-stage-4-down-trend-continues-see-weekly-chart-dont-argue-with-mr-market-or-the-fed/) - This leg down could be the worst yet. Panic selling has not yet hit. Put/call ratio Wednesday was only .94. Watch for T2108, currently at 19%, to decline to below 10%. - [Blog Post: Day 16 of $QQQ down-trend; 29 US yearly highs and 563 lows, 6 at ATH; IBD calls market in correction; It is still the time to be on the sidelines. When the GMI turns Green it will be worthwhile going long again. Check out the weekly 10:30 chart of $SPY](https://wishingwealthblog.com/2022/09/blog-post-day-16-of-qqq-down-trend-29-us-yearly-highs-and-563-lows-6-at-ath-ibd-calls-market-in-correction-it-is-still-the-time-to-be-on-the-sidelines-when-the-gmi-turns-green-it-will-be-worthw/) - This weekly 10:30 chart of SPY shows the trend of the market. Until the 10 week average rises above the 30 week average, the down-trend persists. Look at the pattern in 2021. Note the close (gray line) below both averages leading them down. - [Blog Post; 35 US new highs and 438 new lows; $INSW is one of 4 stocks at ATH, see daily chart of $INSW and how I evaluated it](https://wishingwealthblog.com/2022/09/blog-post-35-us-new-highs-and-438-new-lows-4-stocks-at-ath-one-of-them-is-insw-see-daily-chart-of-insw-and-how-i-evaluated-it/) - I am writing this post to show my students a way to evaluate a company that comes to one's attention because of strong technical action. TC2000 showed me that INSW is one of four stocks that hit an ATH on Monday and that it came public in 2016. INSW had a GLB with above average - [Blog Post: Day: Day 14 of $QQQ short term down-trend; Where is $QQQ likely to bottom? See how technical analysis could have helped you to avoid the $FDX debacle](https://wishingwealthblog.com/2022/09/blog-post-day-day-14-of-qqq-short-term-down-trend-where-is-qqq-likely-to-bottom-see-how-technical-analysis-could-have-helped-you-to-avoid-the-fdx-debacle/) - Will QQQ stop at the June low or will it decline to the trend channel line (237.47) and former green line top or go further below? Note the above average volume last week when QQQ declined. FDX gapped down Friday after the company announced they were withdrawing guidance and feared the whole world was entering - [Blog Post: Day 13 of $QQQ short term down-trend; weekly chart of $DIA suggests re-test of last June's lows; how to discern a market bottom--it's easy with a weekly 10:30 chart!](https://wishingwealthblog.com/2022/09/blog-post-day-13-of-qqq-short-term-down-trend-weekly-chart-of-dia-suggests-re-test-of-last-junes-lows-how-to-discern-a-market-bottom-its-easy-with-a-weekly-1030-chart/) - Market could fall to last green line break-out at 295.87 (GLB) which occurred after the pandemic decline, in November, 2020. A decline below that green line could induce heavy selling and a market bottom. But we do not need to predict, just to react after a bottom is firmly in. But how will we know - [Blog Post: Day 12 of $QQQ short term down-trend; 50 US new highs and 316 new lows; 9 stocks at ATHs, some look very interesting: $LNTH, $INSW, $LNG, $RXDX, $ALB and $ELF, see charts and complete list](https://wishingwealthblog.com/2022/09/blog-post-day-12-of-qqq-short-term-down-trend-50-us-new-highs-and-316-new-lows-9-stocks-at-aths-some-look-very-interesting-lnth-insw-lng-rxdx-alb-and-elf-see-charts-and-complete-list/) - [Blog Post: Day 11 of $QQQ short term down-trend; 29 US new highs and 191 new lows; $SQQQ +16.5% as longer term down-trend of QQQ remains intact, see weekly and GMMA charts](https://wishingwealthblog.com/2022/09/blog-post-day-11-of-qqq-short-term-down-trend-29-us-new-highs-and-191-new-lows-sqqq-16-5-as-longer-term-down-trend-of-qqq-remains-intact-see-weekly-and-gmma-charts/) - The longer term down-trend for QQQ is holding. As I said on Monday, it was important for QQQ to hold above its 4 week average (purple dotted line). It has not. I am almost all in cash with a small position in SQQQ. See weekly charts below. Weekly BWR down-trend is intact. - [Blog Post: Day 10 of $QQQ short term down-trend but $QQQ has an hourly RWB pattern](https://wishingwealthblog.com/2022/09/blog-post-day-10-of-qqq-short-term-down-trend-but-qqq-has-an-hourly-rwb-pattern/) - [Blog Post: Day 9 of $QQQ short term down-trend; 64 US new highs and 62 new lows; see list of 18 stocks at ATHs; analysis of $ENPH; critical week coming for $QQQ](https://wishingwealthblog.com/2022/09/blog-post-day-9-of-qqq-short-term-down-trend-64-us-new-highs-and-62-new-lows-see-list-of-18-stocks-at-aths-analysis-of-enph-critical-week-coming-of-qqq/) - Here are the 18 stocks on my IBD/MS watchlist that reached ATHs on Friday. They are sorted by Friday's close/close 250 days ago. None of them have doubled. CEG has, but it is a recent IPO and did not trade 250 days ago. Any TMLs (true market leaders) among them? ENPH is an example of - [Blog Post: Day 8 of $QQQ short term down-trend; 16 stocks on my IBD/MS watchlist hit an ATH on Thursday, see list, sorted by change from a year ago.](https://wishingwealthblog.com/2022/09/blog-post-day-8-of-qqq-short-term-down-trend-16-stocks-on-my-ibd-ms-watchlist-hit-an-ath-on-thursday-see-list-sorted-by-change-from-a-year-ago/) - Only 2 of these stocks at an ATH on Thursday have doubled from a year ago, RXDX and ENPH. This was a valued criterion used by Nicolas Darvas to select stocks to buy. A stock that has already doubled is more likely to double again. David Ryan and Brad Koteshwar have also mentioned this as - [Blog Post: Day 7 of $QQQ short term down-trend; $ENPH has GLB and shines, see chart and @markminervini VCP](https://wishingwealthblog.com/2022/09/blog-post-day-7-of-qqq-short-term-down-trend-enph-has-glb-and-shines-see-chart-and-markminervini-vcp/) - I tweeted out this GLB early today when ENPH was at 303. At the time it had a volume buzz = +500%. ENPH closed at an ATH today of 316.31. Follow my tweets: @WishingWealth. Look at the trading volume today. This is a terrific pattern. There was a huge volume break-out and GLB in late - [Bog Post: Day 5 of $QQQ short term down-trend; I will not fight the trend, in cash plus some $SQQQ](https://wishingwealthblog.com/2022/09/bog-post-day-5-of-qqq-short-term-down-trend-i-will-not-fight-the-trend-in-cash-plus-some-sqqq/) - This weekly chart shows that we have entered a down-trend like the one that began last April. Whether this decline will break the June lows is unknown. However, any trend follower must respect this down-trend and be in cash or in an inverse index ETF. I like SQQQ. Note QQQ closed back below its 10 - [Blog Post: Day 4 of $QQQ short term down-trend, GMI=0; Class starts tomorrow with 135 freshmen; $CELH, example of a failed GLB; but $RXDX has GLB](https://wishingwealthblog.com/2022/09/blog-post-day-4-of-qqq-short-term-down-trend-gmi0-class-starts-tomorrow-with-135-freshmen-celh-example-of-a-failed-glb-but-rxdx-has-glb/) - Tomorrow afternoon I welcome 135 freshmen to my class. It will be a challenge keeping them interested in a market in a down-trend. The virtual trading exercise will also be difficult for them. I am also teaching without the help of my late colleague and co-instructor, David McCandlish, whose untimely death in a boating accident - [Blog Post: Day 3 of $QQQ short term down-trend; 19 new US highs and 300 new lows; weekly chart shows $SPY in free-fall, again](https://wishingwealthblog.com/2022/08/blog-post-day-3-of-qqq-short-term-down-trend-19-new-us-highs-and-300-new-lows-weekly-chart-shows-spy-in-free-fall-again/) - Decline is reminiscent of what happened last April when SPY failed to hold above 30 week average (solid red line). Will this decline take out June's lows? No one knows but it is better to stand aside. After a new up-trend begins it is much easier to make money going long. - [Blog Post: Day 2 of $QQQ short term down-trend; Tonight's guest on Boston IBD Meetup used 40 week MA to analyze MRNA, look how 30 week does](https://wishingwealthblog.com/2022/08/blog-post-day-2-of-qqq-short-term-down-trend-tonights-guest-on-boston-ibd-meetup-used-40-week-ma-to-analyze-mrna-look-how-30-week-does/) - 30 week =red, 40 week =blue. Stage analysis uses 30 week average. Support at 30 week average might keep one invested during declines. Boston IBD Meetup is terrific, view tonight's recording for a great tutorial on using iBD and MarketSmith tools. - [Blog Post: Day 1of new $QQQ short term down-trend and GMI signal turns Red; Stage 4 down- trend continues, see weekly chart](https://wishingwealthblog.com/2022/08/blog-post-day-1of-new-qqq-short-term-down-trend-and-gmi-signal-turns-red-stage-4-down-trend-continues-see-weekly-chart/) - [Blog Post; Bloody Fridays typically lead to weak Monday openings, as in October 1987; 43 new highs and 206 new lows; GMI=2 and could turn Red by Monday's close](https://wishingwealthblog.com/2022/08/blog-post-bloody-fridays-typically-lead-to-weak-monday-openings-as-in-october-1987-43-new-highs-and-206-new-lows-gmi2-and-could-turn-red-by-mondays-close/) - The weekly chart of QQQ looks very weak. QQQ is back below its declining 30 week average in a Stage IV decline. This pattern could lead to a drop like the one that began last April. I am in cash with a small position in SQQQ. This is not the time to be brave. It - [Blog Post: Day 29 of $QQQ short term up-trend; see list of 19 stocks at ATH, sorted by change in price since a year ago](https://wishingwealthblog.com/2022/08/blog-post-day-29-of-qqq-short-term-up-trend-see-list-of-19-stocks-at-ath-sorted-by-change-in-price-since-a-year-ago/) - Stocks with a flag are on my IBD/MS watchlist. Bottom 2 with an * came public in past year. Somewhere in this list is one or more new market leaders. - [Blog Post: Day 28 of $QQQ short term up-trend; $QQQ very oversold and bounce likely; GLB: $CLH, how I buy a GLB automatically](https://wishingwealthblog.com/2022/08/blog-post-day-28-of-qqq-short-term-up-trend-qqq-very-oversold-and-bounce-likely-glb-clh-how-i-buy-a-glb-automatically/) - QQQ reached very oversold levels yesterday last seen in June before the recent rally began. 53% of NASDAQ100 stocks had a daily 10.4 stochastic - [Blog Post: Day 27 of $QQQ short term up-trend; 55 US new highs and 165 new lows; 3 GLBs Tuesday: $TMDX, $DEN, $CELH, see charts and list of 13 at ATH](https://wishingwealthblog.com/2022/08/blog-post-day-27-of-qqq-short-term-up-trend-55-us-new-highs-and-165-new-lows-3-glbs-tuesday-tmdx-den-celh-see-charts-and-list-of-13-at-ath/) - I am 100% cash in my accounts. I do not like the fact that the major indexes are now below their declining 30 week averages. There were only 13 stocks that traded at all-time-highs (ATH) on Tuesday and 3 of them were green line break-outs (GLBs). Here are the 3 GLBs. If any closes below - [Blog Post: Day 26 of $QQQ short term up-trend; 41 US new highs and 222 new lows; hourly modified GMMA chart reveals BWR decline of $QQQ](https://wishingwealthblog.com/2022/08/blog-post-day-26-of-qqq-short-term-up-trend-41-us-new-highs-and-222-new-lows-hourly-modified-gmma-chart-reveals-bwr-decline-of-qqq/) - [Blog Post: This week may tell us whether the recent bounce was more than a bear market rally; $BJ is an example of a failed GLB, see chart](https://wishingwealthblog.com/2022/08/blog-post-this-week-may-tell-us-whether-the-recent-bounce-was-more-than-a-bear-market-rally-bj-is-an-example-of-a-failed-glb-see-chart/) - The weekly chart of QQQ shows that it retraced to its 30 week average (red solid line) last week. If it holds the 4 week average (red dotted line) and the 30 week average this week I think the new up-trend is intact. If it closes this week below the 30 week and the 4 - [Blog Post: Day 24 of $QQQ short term up-trend; $ON had a GLB on above average volume, comp=98, see daily chart](https://wishingwealthblog.com/2022/08/blog-post-day-24-of-qqq-short-term-up-trend-on-had-a-glb-on-above-average-volume-comp98-see-daily-chart/) - [Blog Post: Day 23 of $QQQ short term up-trend; Only 70 new US highs and 62 new lows; This weekly chart shows $SPY is at a critical point, another leg down on tap?](https://wishingwealthblog.com/2022/08/blog-post-day-23-of-qqq-short-term-up-trend-only-70-new-us-highs-and-62-new-lows-this-weekly-chart-shows-spy-is-at-a-critical-point-another-leg-down-on-tap/) - SPY is above its 30 week average (solid red line) but has hit a wall at its descending down-trend line. It is also floating above its 4 week average (red dotted line), a sign of being extended. If SPY should close back below its 30 week average it could signal another vicious leg down. Look - [Blog Post: Day 21 of $QQQ short term up-trend; $QQQ in Daily RWB up-trend](https://wishingwealthblog.com/2022/08/blog-post-day-21-of-qqq-short-term-up-trend-qqq-in-daily-rwb-up-trend/) - [Blog post: Day 21 of $QQQ short term up-trend; GMI has been 6 out of 6 for 4 days; set-ups are working, look at $AAPL and create your own and share it!](https://wishingwealthblog.com/2022/08/blog-post-day-21-of-qqq-short-term-up-trend-gmi-has-been-6-out-of-6-for-4-days-set-ups-are-working-look-at-aapl-and-create-your-own-and-share-it/) - I have written before that the best time for me to go long is when the GMI is on a Green signal. It has been Green since 7/21. Since then QQQ has advanced +8.35% and 83% of its stocks have gone up. The median change of the Nasdaq100 stocks is +7.5%. The GMI rose to - [Day 20 of $QQQ short term up-trend; GMI=6 (of 6) and many stocks are breaking out; My analysis of $GNRC and $DGII](https://wishingwealthblog.com/2022/08/day-20-of-qqq-short-term-up-trend-gmi6-of-6-and-many-stocks-are-breaking-out-my-analysis-of-gnrc-and-dgii/) - As long as the QQQ remains above its 30 week average I am trading stocks. I will not transfer my university pension funds back into mutual funds for a little longer, however. The market bottom could really be in but if the Fed starts to raise rates repeatedly again it could kill the rally. I - [Blog Post: Day 19 of $QQQ short term up-trend; $DIA, $QQQ, $SPY back above their 30 week averages](https://wishingwealthblog.com/2022/08/blog-post-day-19-of-qqq-short-term-up-trend-dia-qqq-spy-back-above-their-30-week-averages/) - As long as the major indexes hold their 30 week averages the Stage 4 down-trend may be ending. Here are 10 stocks that came up from my Weekly Green Bar scan of stocks on my IBD/MS watchlist. - [Blog Post: Day 18 of $QQQ short term up-trend; GMI=6 for first time since 11/18/2021! 6 stocks that passed my Weekly Green Bar scan](https://wishingwealthblog.com/2022/08/blog-post-day-18-of-qqq-short-term-up-trend-gmi6-for-first-time-since-11-18-2021-6-stocks-that-passed-my-weekly-green-bar-scan/) - Since QQQ has retaken its 30 week average, the GMI is now= 6 (of 6). I have begun going long in my trading account. I will wait for the 30 week averages to curve up to begin transferring money in my university retirement accounts back into mutual funds. Check out this Weekly 10:30 chart of - [Blog Post: Day 17 of $QQQ short term up-trend; $SWAV has GLB on huge volume, see chart](https://wishingwealthblog.com/2022/08/blog-post-day-17-of-qqq-short-term-up-trend-swav-has-glb-on-huge-volume-see-chart/) - [Blog Post: Day 16 of $QQQ short term up-trend; $QQQ, $DIA and $SPY stalling at 30 week average, see weekly charts](https://wishingwealthblog.com/2022/08/blog-post-day-16-of-qqq-short-term-up-trend-qqq-dia-and-spy-stalling-at-30-week-average-see-weekly-charts/) - QQQ and DIA look like SPY. Failure to climb above declining 30 week average this week could signal more weakness. This is a weekly chart. Look what happened last April. - [Blog Post: Day 15 of $QQQ short term up-trend, GMI back to 4 (of 6); How to use hourly/daily/weekly GMMA charts to analyze the market.](https://wishingwealthblog.com/2022/08/blog-post-day-15-of-qqq-short-term-up-trend-gmi-back-to-4-of-6-how-to-use-hourly-daily-weekly-gmma-charts-to-analyze-the-market/) - While the QQQ is in ints 15th day of a short term up-trend, I find it useful to look at how its adapted GMMA charts look. This consists of 12 exponential moving averages with different periods and a 13th average equal to 1 which shows the current price. In an up trend one wants to - [Blog Post: Day 14 of $QQQ short term up-trend; GMI=5 now that QQQ closed above its 30 week average; $DGII and $OTTR have GLBs, see weekly charts](https://wishingwealthblog.com/2022/08/blog-post-day-14-of-qqq-short-term-up-trend-gmi5-now-that-qqq-closed-above-its-30-week-average-dgii-and-ottr-have-glbs-see-weekly-charts/) - We still have yet to get 100 new yearly highs among US stocks that will incease the GMI to 6/6. This market continues to climb. However, only 2 stocks came up in my Weekly Green Bar scan of 806 stocks in my IBD/MS watchlist. DGII and OTTR have also had GLBs this week. Here are - [Blog Post: Day 13 of $QQQ short term up-trend;$AAPL now in 2nd week above 30 week average, see weekly chart](https://wishingwealthblog.com/2022/08/blog-post-day-13-of-qqq-short-term-up-trendaapl-now-in-2nd-week-above-30-week-average-see-weekly-chart/) - [Blog Post: Day 12 of $QQQ short term up-trend; Weekly chart shows $QQQ remains in a Stage 4 down-trend](https://wishingwealthblog.com/2022/08/blog-post-day-12-of-qqq-short-term-up-trend-weekly-chart-shows-qqq-remains-in-a-stage-4-down-trend/) - [Blog Post: Day 11 of $QQQ short term up-trend; MACD hourly histograms reveal weakening in $QQQ, $SPY and $DIA](https://wishingwealthblog.com/2022/08/blog-post-day-11-of-qqq-short-term-up-trend-macd-hourly-histograms-reveal-weakening-in-qqq-spy-and-dia/) - One of the ways I use the 12/26/9 MACD indicator is to focus on the hourly histograms. Study this hourly chart to learn how to use this indicator. When the histograms decline and turn RED, it can signal weakness. The hourly histogram is a very short term indicator and signals small moves. Note the weakening - [Day 10 of $QQQ short term up-trend, since Day 1 QQQ (+9%), TQQQ +27.7%, beating all Nasdaq100 stocks and all but 2 S&P500 stocks, ENPH (+37.7%) and SEDG (+28.3%)](https://wishingwealthblog.com/2022/07/day-10-of-qqq-short-term-up-trend-since-day-1-qqq-9-tqqq-27-7-beating-all-nasdaq100-stocks-and-all-but-2-sp500-stocks-enph-37-7-and-sedg-28-3/) - If I had bought TQQQ on Day 1 of the QQQ short term up-trend, I would have beaten almost all stocks. I have demonstrated this strategy many times. The key is to buy TQQQ on Day 1 even though the new up-trend is most suspect. I have also written that a change in the short - [Blog post: Day 9 of $QQQ short term up-trend; First time >100 (106) new US highs since June 8; 26 IBD/MS stocks at ATH sorted by gain over last year; $CEIX, $LNTH.....](https://wishingwealthblog.com/2022/07/blog-post-day-9-of-qqq-short-term-up-trend-first-time-100-106-new-us-highs-since-june-8-26-ibd-ms-stocks-at-ath-sorted-by-gain-over-last-year-ceix-lnth/) - I scanned my watchlist of 807 stocks that had been on IBD or MarketSmith lists in the recent past. These 26 stocks, sorted by close today/close 250 days ago, may include some new market leaders. Note that CEIX is at the top, having almost tripled during the past year. Here is its monthly chart. LNTH - [Blog post: Day 8 of $QQQ short term up-trend; 69 US new highs, 122 new lows; 91% of Nasdaq 100 stocks rise; $AAPL up against declining 30 week average as it reports earnings](https://wishingwealthblog.com/2022/07/blog-post-day-8-of-qqq-short-term-up-trend-69-us-new-highs-122-new-lows-91-of-nasdaq-100-stocks-rise-aapl-up-against-declining-30-week-average-as-it-reports-earnings/) - If AAPL can retake and hold its 30 week average it bodes well for tech stocks. AAPL reports earnings Thursday. Weekly chart. - [Blog post: Day 7 of $QQQ short term up-trend; $MLI has GLB on above average volume, see daily, weekly and monthly charts](https://wishingwealthblog.com/2022/07/blog-post-day-7-of-qqq-short-term-up-trend-mli-has-glb-on-above-average-volume-see-daily-weekly-and-monthly-charts/) - According to MarketSmith, MLI has comp=98, EPS=99 and RS=97. For a stock to trade at an ATH in such a weak market it is showing incredible relative strength. MLI reported good earnings today. See daily, weekly and monthly charts. Must not close below green line (63.07). Not a rec, for educational purposes only. Most break-outs - [Blog post: Day 6 of $QQQ short term up-trend; $CEIX to ATH after holding GLB, see daily and monthly charts](https://wishingwealthblog.com/2022/07/blog-post-day-6-of-qqq-short-term-up-trend-ceix-to-ath-after-holding-glb-see-daily-and-monthly-charts/) - CEIX came up on one of my scans again. MarketSmith says earnings expected to be up +698% in 2022 and another 155% in 2023. Coal is king!, for now. See daily and monthly charts. Note recent GLB. - [Blog post: Day 5 of $QQQ short term up-trend; $GPC has GLB to ATH on Friday, see charts; Comp rating= 98 and RS=93; $RYAN also has a GLB; See video to chart RWB patterns](https://wishingwealthblog.com/2022/07/blog-post-day-5-of-qqq-short-term-up-trend-gpc-has-glb-to-ath-on-friday-see-charts-comp-rating-98-and-rs93-ryan-also-has-a-glb-see-video-to-chart-rwb-patterns/) - I ran a scan of stocks near their ATH that had hourly, daily and weekly RWB patterns. Seven of 7,421 stocks came up. Two of them had GLBs last week, GPC and RYAN. GPC has the better fundamentals on MarketSmith and broke out on above average volume. RYAN is a recent IPO and trading volume - [Blog post; GMI flashes Green; Day 4 of $QQQ short term up-trend; Weekly chart shows likely support and resistance for QQQ](https://wishingwealthblog.com/2022/07/blog-post-gmi-flashes-green-day-4-of-qqq-short-term-up-trend-weekly-chart-shows-likely-support-and-resistance-for-qqq/) - The place where QQQ has found support is at its trend channel line (red line). If this rally fails that is the likely next support which coincidentally is near where the last GLB in 2020 occurred. On the other hand, the place where this rally may stall out is at its 30 week moving average - [Blog post: GMI=4 could turn Green Thursday; Only 45 new US lows; Day 3 of $QQQ short term up-trend; $LNTH looking strong, see charts](https://wishingwealthblog.com/2022/07/blog-post-gmi4-could-turn-green-thursday-only-45-new-us-lows-day-3-of-qqq-short-term-up-trend-lnth-looking-strong-see-charts/) - LNTH hits ATH Wednesday. This weekly chart also shows a green bar signal and RS is at a 50 week high. MarketSmith says It has RS and Comp = 99 with expected earnings in 2022= +524%. Great technicals and fundamentals! Earnings expected next week, however. Monthly: - [Blog post: Day 2 of $QQQ short term up-trend; only 51 new U.S. stock lows, lowest since March 30; Major indexes retake 10 week averages; T2108 up to 46%; $HUM holding GLB](https://wishingwealthblog.com/2022/07/blog-post-day-2-of-qqq-short-term-up-trend-only-51-new-u-s-stock-lows-lowest-since-march-30-major-indexes-retake-10-week-averages-t2108-up-to-46-hum-holding-glb/) - Here is the weekly chart of HUM. Note the three green bars in a row, indicating bounces up off of the rising 4 week average. A weekly close below the 4 week average (red dotted line) would be a sign of weakness. - [Blog post: $QQQ short term trend indicator turns up again--market is in a flat channel; Get link to my TraderLion conference presentation](https://wishingwealthblog.com/2022/07/blog-post-qqq-short-term-trend-indicator-turns-up-again-market-is-in-a-flat-channel-get-link-to-my-traderlion-conference-presentation/) - I have rarely seen such a back and forth in my QQQ short term trend indicator. The market is clearly going sideways. I am 99% in cash in my trading account and 100% cash in my university pension accounts. Will the June bottom hold? No one knows! I enjoyed presenting at the great 2022 TraderLion - [Blog post: See you Saturday at 2:40 PM EST. See link. See Jared Tendler, David Ryan and John Boik before me, see schedule.](https://wishingwealthblog.com/2022/07/blog-post-see-you-saturday-at-240-pm-est-see-link-see-jared-tendler-david-ryan-and-john-boik-before-me-see-schedule/) - Link to the TraderLion conference Saturday. - [Blog post: Day 3 of $QQQ short term down-trend; Gold, $GLD, in daily BWR decline, not a safe haven, see chart.](https://wishingwealthblog.com/2022/07/blog-post-day-3-of-qqq-short-term-down-trend-gold-gld-in-daily-bwr-decline-not-a-safe-haven-see-chart/) - Daily BWR down-trend since May. Note the green line top. - [Blog post: Day 2 of $QQQ short term down-trend; 323 US lows and 19 highs; QQQ entering daily BWR down-trend, see chart; See you on Saturday?](https://wishingwealthblog.com/2022/07/blog-post-day-2-of-qqq-short-term-down-trend-323-us-lows-and-19-highs-qqq-entering-daily-bwr-down-trend-see-chart-see-you-on-saturday/) - In this daily chart, all of the red lines are declining below all of the blue lines with a white space between them= BWR decline. This is the time for me to be mainly in cash. Remember to catch my presentation on Saturday at 2:40 pm EST at the third day of the TraderLion 2022 - [Blog post: Day 1 of new $QQQ short term down-trend; Hourly GMMA looks weak, see chart; GMI=0](https://wishingwealthblog.com/2022/07/blog-post-day-1-of-new-qqq-short-term-down-trend-hourly-gmma-looks-weak-see-chart-gmi0/) - The hourly GMMA chart shows that QQQ closed (dotted line) the last hour below all 12 averages. I nibbled at SQQQ. If the new short term down-trend reaches day 5, I will be more confident that it will be significant. Note the large volume at the end of the day. See the 10:30 Weekly chart. - [Blog post: $QQQ short term up-trend may end Tuesday after 2 days; about 24% end within 2-5 days; $CI and $HUM reach ATH in strong health care plan group](https://wishingwealthblog.com/2022/07/blog-post-qqq-short-term-up-trend-may-end-tuesday-after-2-days-about-24-end-within-2-5-days-ci-and-hum-reach-ath-in-strong-health-care-plan-group/) - Health care plans seems to be strong with both CI and HUM hitting ATHs on Monday. Both had GLBs recently. CI had the largest increase in volume at its GLB. I tweeted about it on July 7, @WishingWealth. Why are heath care plans so strong? See monthly sector chart below. - [Blog post: Day 1 of new $QQQ short term up-trend, closes above 10 week average; 9 stocks near ATH with RS at 50 week high, $CI and $HRMY have GLB; Presenting at TraderLion Conference on 7/16](https://wishingwealthblog.com/2022/07/blog-post-day-1-of-new-qqq-short-term-up-trend-closes-above-10-week-average-9-stocks-near-ath-with-rs-at-50-week-high-ci-and-hrmy-have-glb-presenting-at-traderlion-conference-on-7-16/) - Stocks near all-time highs (ATHs) with RS at 50 week highs are worth monitoring. All but 2 have a flag indicating they are in my watchlist of stocks recently on IBD and MS lists. They are sorted by current price divided by price 250 days ago. CI and HRMY had GLBs on above average weekly - [Blog post: Friday could be first day of new $QQQ short term up-trend; why this $QQQ rally may be different; how I draw green line for $HALO](https://wishingwealthblog.com/2022/07/blog-post-friday-could-be-first-day-of-new-qqq-short-term-up-trend-why-this-qqq-rally-may-be-different-how-i-draw-green-line-for-halo/) - This chart shows an interesting short term pattern that makes me think this rally is different from recent ones. I have marked short term tops (T) and bottoms (B). In a declining trend we see lower tops and bottoms. However the most recent bottom is higher than the previous one. We did not get the - [Blog post: Day 17 of $QQQ short term down-trend; Still keeping an eye on $LLY as it climbs to another ATH](https://wishingwealthblog.com/2022/07/blog-post-day-17-of-qqq-short-term-down-trend-still-keeping-an-eye-on-lly-as-it-climbs-to-another-ath/) - I wrote on June 26 about LLY having a possible blockbuster drug for obesity and about its strong technicals. Since then, LLY has resisted market weakness and hit another ATH today. I continue to hold a small position in this stock and am monitoring it closely for signs that the big funds are buying, in - [Blog post: Day 16 of $QQQ short term down-trend; Scan found a stock up on highest volume in 50 days that is also near a GLB, the winner is.......](https://wishingwealthblog.com/2022/07/blog-post-day-16-of-qqq-short-term-down-trend-scan-found-a-stock-up-on-highest-volume-in-50-days-that-is-also-near-a-glb-the-winner-is/) - I created a simple scan in TC2000 looking for stocks over $15 that rose today with their highest trading volume in 50 days. Two stocks in my watchlist of 811 stocks mentioned in IBD50 or MS Growth250 lists came up. One of them, CHEF, looks worth monitoring because it is near its ATH and green - [Blog post: Day 15 of $QQQ short term down-trend; I will be speaking on July 16 at the 2nd TraderLion Conference, see details](https://wishingwealthblog.com/2022/07/blog-post-day-15-of-qqq-short-term-down-trend-i-will-be-speaking-on-july-16-at-the-2nd-traderlion-conference-see-details/) - Get details about the conference from my former extraordinary student, Richard Moglen, here. I will be speaking at 2:40 PM EST. I will discuss among other topics, the GMI, monitoring the Worden T2108 indicator for market bottoms, green line break-outs (GLB) and the 10:30 weekly charts. Hope to see many of you! - [Blog post: Day 14 of $QQQ short term down-trend; 513 new lows; Weekly chart of $QQQ is very weak, Stage 4](https://wishingwealthblog.com/2022/06/blog-post-day-14-of-qqq-short-term-down-trend-513-new-lows-weekly-chart-of-qqq-is-very-weak-stage-4/) - QQQ met resistance again at its 10 week average (dotted line). Stage 4 decline continues. Why do so many people think they have to be in the market or try to catch the bottom? Being in cash is so satisfying. Plenty of time to get in and profit once QQQ retakes its 30 week average - [Blog post: Day 13 of $QQQ short term down-trend; $GIS has GLB to ATH on almost 3x average volume](https://wishingwealthblog.com/2022/06/blog-post-day-13-of-qqq-short-term-down-trend-gis-has-glb-to-ath-on-almost-3x-average-volume/) - [Blog post: Day 12 of $QQQ short term down-trend; QQQ hourly RWB up-trend over, see chart](https://wishingwealthblog.com/2022/06/blog-post-day-12-of-qqq-short-term-down-trend-qqq-hourly-rwb-up-trend-over-see-chart/) - [Blog post: Day 11 of $QQQ short term down-trend; Weekly 10:30 chart of QQQ shows what a bottom looks like](https://wishingwealthblog.com/2022/06/blog-post-day-11-of-qqq-short-term-down-trend-weekly-1030-chart-of-qqq-shows-what-a-bottom-looks-like/) - Gray solid line is weekly close. That needs to come back above 30 week average (solid red) to indicate a likely new longer term up-trend. Then the dotted line (10 week average) should climb back above the red. Check out the bottoms in 2019 and 2020. - [Blog post: $QQQ short term down-trend may end Monday; 69% of Nasdaq100 stocks in hourly RWB up-trends; scan shows 12 stocks near ATH with a 50 week high in relative strength; Is $LLY about to help us lose weight?](https://wishingwealthblog.com/2022/06/blog-post-qqq-short-term-down-trend-may-end-monday-69-of-nasdaq100-stocks-in-hourly-rwb-up-trends-scan-shows-12-stocks-near-ath-with-a-50-week-high-in-relative-strength-is-lly-about-to-help-us/) - It is possible that the QQQ short term trend will turn up by the close on Monday. Any change in the short term trend needs to last 5 days for me to really trust it. However, I might buy a little TQQQ on Monday with a close stop. The GMI remains at zero and Red, - [Blog post: Day 9 of $QQQ short term down-trend; Weekly 10:30 chart shows $AAPL in a down-trend too](https://wishingwealthblog.com/2022/06/blog-post-day-9-of-qqq-short-term-down-trend-weekly-1030-chart-shows-aapl-in-a-down-trend-too/) - [Blog post: Day 8 of $QQQ short term down-trend; Hourly GMMA chart shows 20 Year Treasury bonds rallying--Why?](https://wishingwealthblog.com/2022/06/blog-post-day-8-of-qqq-short-term-down-trend-hourly-gmma-chart-shows-20-year-treasury-bonds-rallying-why/) - The hourly GMMA chart can pick up changes in trend before the daily chart. This hourly chart shows TLT beginning an RWB up-trend. Why would longer term rates be coming down? Do traders suspect a recession and weaker economy down the line? - [Blog post: Day 7 of $QQQ short term down-trend; This weekly chart of S&P-500 looks ominous](https://wishingwealthblog.com/2022/06/blog-post-day-7-of-qqq-short-term-down-trend-this-weekly-chart-of-sp-500-looks-ominous/) - The index could bounce all the way back to the 10 week (purple dotted) or 30 week average (solid red) and still be in a Stage 4 down-trend. The 30 week needs to curve up for me to think the down-trend is ending. - [Blog post: T2108=10%, almost there; Waiting patiently for a bottom while holding cash.](https://wishingwealthblog.com/2022/06/blog-post-t210810-almost-there-waiting-patiently-for-a-bottom-while-holding-cash/) - T2108 measures the percentage of NYSE stocks that closed above their simple 40 day moving averages. It is computed each day on TC2000. I would like to see T2108 register below 5% for a real potential bottom to be near. I am content to wait on the sidelines. I exited the market so much higher - [Blog Post: 1,394 new lows and 9 new highs among US stocks; $QQQ in text book Stage 4 down-trend, see weekly chart](https://wishingwealthblog.com/2022/06/blog-post-1394-new-lows-and-9-new-highs-among-us-stocks-qqq-in-text-book-stage-4-down-trend-see-weekly-chart/) - [Blog Post: One of my favorite set-ups, ATHOSB, found one stock, $SQM, check it out and see the tutorial](https://wishingwealthblog.com/2022/06/blog-post-one-of-my-favorite-set-ups-athosb-found-one-stock-sqm-check-it-out-and-see-the-tutorial/) - I scanned over 700 stocks on my IBD/MS watchlist and found only one that looks promising. This is one of my favorite set-ups. It scans for stocks that recently reached an all time high (ATH), then became oversold and now looks like it could bounce (OSB). The beauty of buying a strong stock that may - [Blog Post: 1,032 new lows among US stocks 83 fewer than Monday; Nasdaq 100 stocks are very oversold and primed to bounce? See data on Bollinger bands.](https://wishingwealthblog.com/2022/06/blog-post-1032-new-lows-among-us-stocks-83-fewer-than-monday-nasdaq-100-stocks-are-very-oversold-and-primed-to-bounce-see-data-on-bollinger-bands/) - I track after the close the percentage of Nasdaq100 stocks that traded intraday below their lower 2.15 Bollinger bands. Such a reading is extremely oversold and where stocks often find support. The past 3 days 86-94% of the Nasdaq 100 stocks were that oversold. The last time such a run occurred was at the bottom - [Blog Post: GMI= 0, was 6 for 24 days at market top; 1,115 US stocks at new lows Monday; I am waiting for T2108 to signal a likely bottom, see monthly chart and rationale](https://wishingwealthblog.com/2022/06/blog-post-gmi-0-was-6-for-24-days-at-market-top-1115-us-stocks-at-new-lows-monday-i-am-waiting-for-t2108-to-signal-a-likely-bottom-see-monthly-chart-and-rationale/) - On May 12, we had 1,625 US stocks at new lows. So today's number of 1,115 is not as extreme. The GMI is now =0. It is so much easier to make money buying stocks when the GMI is Green and =6. The last time the GMI= 6 was November 18, near the market top! - [Blog Post: Day 1 of new $QQQ short term down-trend and GMI= RED; How I use my Weekly 10:30 charts for indexes, stocks and mutual funds and gold](https://wishingwealthblog.com/2022/06/blog-post-day-1-of-new-qqq-short-term-down-trend-and-gmi-red-how-i-use-my-weekly-1030-charts-for-indexes-stocks-and-mutual-funds-and-gold/) - Last week I tweeted, @WishingWealth, how my Weekly 10:30 charts helped me to stay on the right side of the market. As long as the 10 week average is above a rising 30 week average the market is in an up-trend. When the reverse is true it is time for me to be short or - [Blog Post: $QQQ short term up-trend could end after 3 days and GMI could go back to Red after 2 days, 100% in cash, these charts tell the story](https://wishingwealthblog.com/2022/06/blog-post-qqq-short-term-up-trend-could-end-after-3-days-and-gmi-could-go-back-to-red-after-2-days-100-in-cash-these-charts-tell-the-story/) - I have rarely seen my indicators whip-saw like this. Only one US stock out of 7,022, PAG, passed my weekly green bar scan. Time to be in cash. QQQ is back below key daily moving averages. And this weekly chart shows a steady down-trend with the 10 week average (dotted) below a declining 30 week - [Blog Post: Day 2 of $QQQ short term up-trend; Only 6 IBD/MS stocks passed my weekly green bar scan: $XOM, $CVX, $LNTH, $AZPN, $AIR, $CEIX, see charts](https://wishingwealthblog.com/2022/06/blog-post-day-2-of-qqq-short-term-up-trend-only-6-ibd-ms-stocks-passed-my-weekly-green-bar-scan-xom-cvx-lnth-azpn-air-ceix-see-charts/) - My weekly green bar scan finds stocks that have recently reached an ATH, have 4wk>10wk>30wk averages and 4 wk avg is rising and stock bounced up off of the 4 wk avg this week and closed up today. Their relative strength vs SPY also must be at a 20 week high. And they must be - [Blog Post: Day 1 of new $QQQ short term up-trend and GMI=4; Nibbling at $TQQQ, see 24 stocks at ATHs](https://wishingwealthblog.com/2022/06/blog-post-day-1-of-new-qqq-short-term-up-trend-and-gmi4-nibbling-at-tqqq-see-24-stocks-at-aths/) - I do not trust a change in the QQQ short term trend count until it reaches the fifth day. Our analyses from 1990-2021 showed that 23% of QQQ short term up-trends lasted 5 days or less, or 77% lasted longer. After 5 days these short term trends tend to last. However, the GMI=4 and if - [Blog Post: Day 38 of $QQQ short term down-trend, could end Tuesday; When will $AAPL have a GLB? see monthly charts](https://wishingwealthblog.com/2022/06/blog-post-day-38-of-qqq-short-term-down-trend-could-end-tuesday-when-will-aapl-have-a-glb-see-monthly-charts/) - As my readers know, I like to buy stocks when they have a GLB to an ATH. Once a stock has a peak that is not surpassed for at least three months I draw a new green line. This monthly chart of AAPL shows 3 GLBs where it would have been profitable to buy AAPL. - [Bog Post: Day 37 of $QQQ short term down-trend; 14 IBD/MarketSmith stocks at 20 year highs on Friday; How GMI signals have worked](https://wishingwealthblog.com/2022/06/bog-post-day-37-of-qqq-short-term-down-trend-14-ibd-marketsmith-stocks-at-20-year-high-on-friday/) - All of the stocks in this table are at all-time-highs except RCMT which hit 35.65 in August, 1989. In looking over the stocks that Darvas and O'Neil made a lot of money on, I saw that they were breaking out of bases to an all time high (ATH). A lot of traders on social media - [Blog post: Day 36 of $QQQ short term down-trend but likely to end on Friday; Nibbling at $TQQQ and watching 6 stocks at ATH: $CBT, $CEIX, $LNTH, $VLO, $VTNR and $VAL, see daily charts](https://wishingwealthblog.com/2022/06/blog-post-day-36-of-qqq-short-term-down-trend-but-likely-to-end-on-friday-nibbling-at-tqqq-and-watching-6-stocks-at-ath-cbt-ceix-lnth-vlo-vtnr-and-val-see-daily-charts/) - We are in a tradable short term rally in a longer term down-trend. One foot must be out the door and ready to exit if things turn down again. My scan found a few stocks at ATH that had good technicals. VTNR retook its green line with a black dot, oversold bounce signal. CEIX held - [Blog Post: Day 35 of $QQQ short term down-trend; Recent IPO $EE close to break-out to ATH, see chart](https://wishingwealthblog.com/2022/06/blog-post-day-35-of-qqq-short-term-down-trend-recent-ipo-ee-close-to-break-out-to-ath-see-chart/) - [Blog Post: Day 34 of $QQQ short term down-trend, but it could end this week; See green dot signals...](https://wishingwealthblog.com/2022/06/blog-post-day-34-of-qqq-short-term-down-trend-but-it-could-end-this-week-see-green-dot-signals/) - If a new QQQ short term up-trend develops, I will buy a little TQQQ in my trading account. But within a longer term down-trend I must be very nimble. See daily chart of QQQ below. Green dot signal finally worked for more than 2 days! Green dots work better in a longer term up-trend. - [Blog Post: Day 33 of $QQQ short term down-trend and $QQQ remains in a Stage 4 down-trend, I am waiting for Stage 2; Here are 13 stocks worth monitoring, $SLVM is an IPO break-out stock with recent GLB](https://wishingwealthblog.com/2022/05/blog-post-day-33-of-qqq-short-term-down-trend-and-qqq-remains-in-a-stage-4-down-trend-i-am-waiting-for-stage-2-here-are-13-stocks-worth-monitoring-slvm-is-an-ipo-break-out-stock-with-recent-glb/) - These 13 stocks hit an ATH last week and survived my weekly green line scan for technically strong stocks in an up-trend. They all hit 20 week highs in relative strength vs. SPY last week. The third column divides current price by its price 250 days ago. Thus LNTH has almost tripled, 2.87 and AMR - [Blog Post: Day 32 of $QQQ short term down-trend; First day with more than 100 US stocks at new highs (102) since April 21; see how my table of new highs/lows below helps me gauge the market's strength](https://wishingwealthblog.com/2022/05/blog-post-day-32-of-qqq-short-term-down-trend-first-day-with-more-than-100-us-stocks-at-new-highs-102-since-april-21-see-how-my-table-of-new-highs-lows-below-helps-me-gauge-the-markets-strengt/) - On May 9-12, between 1360-1625 of US stocks reached the lowest price they had traded in the past 250 days. From May 13-26, even though the indexes declined further, no day had more than 551 new lows. This meant that while the indexes declined to new lows, fewer stocks did. This is the reverse of - [Blog Post: Day 31 of $QQQ short term down-trend; $QQQ remains in daily BWR down-trend, see chart](https://wishingwealthblog.com/2022/05/blog-post-day-31-of-qqq-short-term-down-trend-qqq-remains-in-daily-bwr-down-trend-see-chart/) - [Blog post: Day 30 of $QQQ short term down-trend; $ARKK remains in weekly BWR down-trend, see chart](https://wishingwealthblog.com/2022/05/blog-post-day-30-of-qqq-short-term-down-trend-arkk-remains-in-weekly-bwr-down-trend-see-chart/) - Note its RWB up-trend in 2020 when one could make money owning it. RWB is the pattern I want in order to buy a growth stock. Who knows when the current weekly BWR pattern will end. - [Blog Post; Day 29 of $QQQ short term down-trend; 20+ year treasury bonds, $TLT, in a daily BWR down-trend since January, see chart](https://wishingwealthblog.com/2022/05/blog-post-day-29-of-qqq-short-term-down-trend-20-year-treasury-bonds-tlt-in-a-daily-bwr-down-trend-since-january-see-chart/) - [Blog Post: Day 28 of $QQQ short term down-trend; GMI=0 and Red; I exited in November and do not have to catch the bottom, I can wait patiently for the signs of a new up-trend](https://wishingwealthblog.com/2022/05/blog-post-day-28-of-qqq-short-term-down-trend-gmi0-and-red-i-exited-in-november-and-do-not-have-to-catch-the-bottom-i-can-wait-patiently-for-the-signs-of-a-new-up-trend/) - With the GMI=0 I am content to wait for the end of the decline. I got out of the market in November and I do not have to try to guess the bottom. As long as I get back in at a price lower than where I sold I have done well and avoided all - [Blog Post: Day 27 of $QQQ short term down-trend; $QQQ remains in Stage 4 down-trend, see weekly chart](https://wishingwealthblog.com/2022/05/blog-post-day-27-of-qqq-short-term-down-trend-qqq-remains-in-stage-4-down-trend-see-weekly-chart/) - [Blog Post: Day 26 of $QQQ short term down-trend; $QQQ is now in a weekly BWR down-trend, first since 2008; See weekly charts showing how decline ends.](https://wishingwealthblog.com/2022/05/blog-post-day-26-of-qqq-short-term-down-trend-qqq-is-now-in-a-weekly-bwr-down-trend-first-since-2008-see-weekly-charts-showing-how-decline-ends/) - QQQ is now in a weekly BWR down-trend. All shorter term averages (red lines) are declining below the longer term averages (blue lines) with a white space separating them. Note the prior BWR up-trend pattern that lasted from May 2020 until January 2022. The last time there was such a weekly BWR down-trend was in - [Blog Post: IBD calls market in Confirmed Up-trend but GMI remains at 0; 7 stocks at ATHs: $BMY, $MRK, $CVX, $MUSA, $PAG, $MPC, $PAG, see weekly charts](https://wishingwealthblog.com/2022/05/blog-post-ibd-calls-market-in-confirmed-up-trend-but-gmi-remains-at-0-7-stocks-at-aths-bmy-mrk-cvx-musa-pag-mpc-pag-see-weekly-charts/) - These seven stocks appear in my watchlist of stocks recently mentioned by IBD or MarketSmith. This weekly chart shows how MPC has been in a firm up-trend. Note the retest of its GLB. Its 4wk>10wk>30wk since January. Note how it holds its 4wk average and has multiple green bars indicating support at the 4 wk. - [Blog Post: Day 24 of $QQQ short term down-trend; S&P500 index about to enter weekly BWR down-trend](https://wishingwealthblog.com/2022/05/blog-post-day-24-of-qqq-short-term-down-trend-sp500-index-about-to-enter-weekly-bwr-down-trend/) - Note the prior weekly RWB up-trend. (All shorter term averages (red lines) rising above longer term averages (blue lines) with white space separating them). - [Blog Post: Day 23 of $QQQ short term down-trend; This daily chart shows that $SPY bounced right on schedule at its TCL--is it a dead cat bounce?](https://wishingwealthblog.com/2022/05/blog-post-day-23-of-qqq-short-term-down-trend-this-daily-chart-shows-that-spy-bounced-right-on-schedule-at-its-tcl-is-it-a-dead-cat-bounce/) - Only time will tell. GMI still=0. This was a trend channel line (TCL) bounce--thank you Vas. (@TCLTrader) - [Blog Post: Day 22 of $QQQ short term down-trend; Here are a set of tutorials by my late co-instructor that teach you how to construct charts using TC2000; See $QQQ and $ARKK in BWR down-trends](https://wishingwealthblog.com/2022/05/blog-post-day-22-of-qqq-short-term-down-trend-here-are-a-set-of-tutorials-by-my-late-co-instructor-that-teach-you-how-to-construct-charts-using-tc2000-see-qqq-and-arkk-in-bwr-down-trends/) - I have recently discovered a Youtube site (The Restless Page) that my late co-instructor, David, built that shows you how to add some of my indicators and create Guppy charts etc. using TC2000. I have used TC2000 for over 20 years and it is easy to use, because I can! I hope you enjoy them. - [Blog Post: Day 21 of $QQQ short term down-trend; T2108=12%, sentiment is extremely negative; Cash is King](https://wishingwealthblog.com/2022/05/blog-post-day-21-of-qqq-short-term-down-trend-t210812-sentiment-is-extremely-negative-cash-is-king/) - If T2108 declines into single digits, I will be looking for a bottom. The key is to react after the trend has changed and not before. Below is the weekly chart of T2108. - [Blog Post: 6 straight weeks of declines in QQQ, see weekly chart and T2108 low; put/call ratio=1.07, bounce coming?](https://wishingwealthblog.com/2022/05/blog-post-6-straight-weeks-of-declines-in-qqq-see-weekly-chart-and-t2108-low-put-call-ratio1-07-bounce-coming/) - Getting very short term over-sold with T2108 hitting 12% intraday. Would like to see single digits for a true bottom. But P/C ratio at 1.07 suggests bounce likely. - [Blog Post: Day 19 of $QQQ short term down-trend; 1504 new lows; $TSLA back below green line-- failed GLB](https://wishingwealthblog.com/2022/05/blog-post-day-19-of-qqq-short-term-down-trend-1504-new-lows-tsla-back-below-green-line-failed-glb/) - When a stock has a failed green line break-out (GLB) it often portends more weakness. See weekly chart. - [Blog Post: Day 18 of $QQQ short term down-trend; $QQQ on trend channel line, may bounce; Chocolate, $HSY, anyone?](https://wishingwealthblog.com/2022/05/blog-post-day-18-of-qqq-short-term-down-trend-qqq-on-trend-channel-line-may-bounce-chocolate-hsy-anyone/) - QQQ has approached the trend channel line (TCL) I drew weeks ago and may bounce. If you want to learn about trend channel lines you can look up the work of Al Brooks or attend the monthly Northern Virginia IBD meetups where Vas teaches this type of technical analysis. Vas presents a great lecture to - [Blog Post: Day 17 of $QQQ short term down-trend; QQQ could be close to support, see weekly chart](https://wishingwealthblog.com/2022/05/blog-post-day-17-of-qqq-short-term-down-trend-qqq-could-be-close-to-support-see-weekly-chart/) - Maybe QQQ will bounce up off of this trend channel line--thank you Vas! I drew this line weeks ago! This is a Stage 4 down-trend. No time for me to buy and hold. - [Blog Post: Day 16 of $QQQ short term down-trend; 7 IBD/MS Stocks with Weekly Green BAR and at ATH: $VLO, $WLK, $MUSA, $MPC, $RS, $CEIX, $AMR](https://wishingwealthblog.com/2022/05/blog-post-day-16-of-qqq-short-term-down-trend-7-ibd-ms-stocks-with-weekly-green-bar-and-at-ath-vlo-wlk-musa-mpc-rs-ceix-amr/) - These stocks on my recent IBD/MS watchlist passed my scan for having a weekly green bar, hitting an ATH (all-time high) and relative strength (SPY) at 20 week high. Worth monitoring if today's rally holds. AMR has earnings Thursday. Here is weekly chart of MPC as an example. All of these stocks are above - [Blog Post: Day 15 of $QQQ short term down-trend; Short term interest rates in weekly RWB up-trend, see chart](https://wishingwealthblog.com/2022/05/blog-post-day-15-of-qqq-short-term-down-trend-short-term-interest-rates-in-weekly-rwb-up-trend-see-chart/) - [Blog Post: Day 14 of $QQQ short term down-trend; Waiting for $AAPL to Have a GLB, see monthly chart.](https://wishingwealthblog.com/2022/05/blog-post-day-14-of-qqq-short-term-down-trend-waiting-for-aapl-to-have-a-glb-see-monthly-chart/) - GLB is a break-out above a green line top. Horizontal green line is drawn on a monthly chart at an all-time high not exceeded for at least 3 months. I only buy stocks trading above their last green line. - [Blog Post: Based on my analysis of the market, it is nowhere oversold enough to be near a bottom. Here is the evidence.](https://wishingwealthblog.com/2022/05/blog-post-based-on-my-analysis-of-the-market-it-is-nowhere-oversold-enough-to-be-near-a-bottom-here-is-the-evidence/) - I began seriously following the market around 1964. I remember at one investors meeting I attended, people were complaining about the decline in 1962 after what some called the Kennedy Slide. In 1966, 1970, and 1974, I witnessed other declines, especially the large one in 1974 while I was in graduate school. People back then - [Blog Post: Day 12 of $QQQ short term down-trend; $TDOC has been in a weekly BWR down-trend since May, $DBC in a weekly RWB up-trend, see charts](https://wishingwealthblog.com/2022/04/blog-post-day-12-of-qqq-short-term-down-trend-tdoc-has-been-in-a-weekly-bwr-down-trend-since-may-dbc-in-a-weekly-rwb-up-trend-see-charts/) - How could anyone stay in this stock after it entered a weekly BWR (blue/white/red) down-trend. In contrast, commodities have been in a weekly RWB up-trend. GMMA charts are great for seeing the trend. - [Blog Post: Day 11 of $QQQ short term down-trend; T2108, at 30%, is far above bottom territory, see monthly chart](https://wishingwealthblog.com/2022/04/blog-post-day-11-of-qqq-short-term-down-trend-t2108-at-30-is-far-above-bottom-territory-see-monthly-chart/) - Worden's T2108 indicator is the percentage of NYSE stocks that have closed above their simple 40 day moving averages. T2108 is available in TC2000 and I list its value every time I post. I consider T2108 to be a pendulum of the market. I tell my students when T2108 falls to single digits they should - [Blog Post: Day 9 of $QQQ short term down-trend; On sidelines in cash since November, see my tweet warning of things to come](https://wishingwealthblog.com/2022/04/blog-post-day-9-of-qqq-short-term-down-trend-on-sidelines-in-cash-since-november-see-my-tweet-warning-of-things-to-come/) - If you want to know why I began exiting mutual funds in my university pension accounts last November, check out my January, 2022 AAII presentation. Link is in the webinar tab of this blog. Or go here. Here is my 11/21 tweet indicating when I was becoming scared. - [Blog Post: GMI=0; Major indexes in Weinstein Stage 4 down-trends; Cash is the best place to be--take the oath](https://wishingwealthblog.com/2022/04/blog-post-gmi0-major-indexes-in-weinstein-stage-4-down-trends-cash-is-the-best-place-to-be-take-the-oath/) - Too many times I have seen the market plunge after a Stage 4 decline became evident. It is therefore possible that we have only seen the beginning of a major decline. No one knows when a decline will end. So for me it makes sense to be in cash and to wait for a clear - [Blog post: Day 7 of $QQQ short term down-trend; Things looking ominous again](https://wishingwealthblog.com/2022/04/blog-post-day-7-of-qqq-short-term-down-trend-things-looking-ominous-again/) - The major indexes had failed rally attempts. This "naked" chart shows the QQQ 10 week average declining below the declining 30 week average. Not a good sign. Cash is still the best position for me now. - [Blog Post: Bullish sign-$DIA retakes 30 week average, see weekly chart](https://wishingwealthblog.com/2022/04/blog-post-bullish-sign-dia-retakes-30-week-average-see-weekly-chart/) - [Blog post: Who in their right mind would have been caught in the $NFLX collapse? Stage 4 since January!!! and failed GLB, see weekly chart](https://wishingwealthblog.com/2022/04/blog-post-who-in-their-right-mind-would-have-been-caught-in-the-nflx-collapse-stage-4-since-january-and-failed-glb-see-weekly-chart/) - Stocks matter! Look at the high volume selling and the failed GLB! - [Blog Post: Day 4 of $QQQ short term down-trend; Daily GMMA charts show 20 yr treasuries, $TLT, dive as commodities, $DBC, rise---in mirror images](https://wishingwealthblog.com/2022/04/blog-post-day-4-of-qqq-short-term-down-trend-daily-gmma-charts-show-20-yr-treasuries-tlt-dive-as-commodities-dbc-rise-in-mirror-images/) - [Blog Post: $QQQ and $SPY closed back below their 10 week averages; GMI remains Red; Cash is king but there are 25 stocks trading at ATHs that passed my WeeklyGreenBar scan: $SRE, $NEM, I describe scan here](https://wishingwealthblog.com/2022/04/blog-post-qqq-and-spy-closed-back-below-their-10-week-averages-gmi-remains-red-cash-is-king-but-there-are-25-stocks-trading-at-aths-that-passed-my-weeklygreenbar-scan-sre-nem-i-describe-scan/) - I cannot see any reason to be invested long in the traditional growth and tech stocks. Why fight the receding tide? The purple line in this weekly chart of QQQ shows a possible place where this index could find support. It looks to me like a very weak head and shoulders top pattern has formed. - [Blog Post: Day 2 of $QQQ short term down-trend; $QQQ still appears to be in Stage 4 down-trend, see weekly chart](https://wishingwealthblog.com/2022/04/blog-post-day-2-of-qqq-short-term-down-trend-qqq-still-appears-to-be-in-stage-4-down-trend-see-weekly-chart/) - [Blog Post: Day 1 of $QQQ short term down-trend, GMI turns Red; QQQ in hourly BWR down-trend, $GLD in hourly RWB up-trend, see charts](https://wishingwealthblog.com/2022/04/blog-post-day-1-of-qqq-short-term-down-trend-gmi-turns-red-qqq-in-hourly-bwr-down-trend-gld-in-hourly-rwb-up-trend-see-charts/) - These are hourly charts. Note how in recent days GLD is the reverse of QQQ. Time to be very defensive and mainly in cash and maybe some gold (GLD or UGL) or SQQQ. - [Blog Post: Tomorrow the GMI could flash Red and the $QQQ short term up-trend could end; head and shoulders top? But $GLD is in a weekly RWB up-trend](https://wishingwealthblog.com/2022/04/blog-post-tomorrow-the-gmi-could-flash-red-and-the-qqq-short-term-up-trend-could-end-head-and-shoulders-top-but-gld-is-in-a-weekly-rwb-up-trend/) - The markets are weak in anticipation of a high CPI number tomorrow and raging inflation QQQ is in a Stage 4 down-trend and I have drawn in one trend line in the weekly chart where it could find support. It looks to me like an ominous head and shoulders top pattern. The lower right shoulder - [Blog post: $DIA, $QQQ, $SPY, $IWM all below their 30 week averages; But $NVO, $SBOW and $BMY had GLBs, see weekly charts and $ABBV](https://wishingwealthblog.com/2022/04/blog-post-dia-qqq-spy-iwm-all-below-their-30-week-averages-but-nvo-sbow-and-bmy-had-glbs-see-weekly-charts-and-abbv/) - This year has been a miserable time for the major stock indexes and their components. Their weakness, reflected in my GMI table below, obscures the fact that there is still a bull market in nontraditional sectors, especially those related to oil drilling, agriculture, medical distribution and drugs. So although the traditional big caps and tech - [Blog post: Amazingly, 24 stocks passed my scan for stocks at ATH and good technicals](https://wishingwealthblog.com/2022/04/blog-post-amazingly-24-stocks-passed-my-scan-for-stocks-at-ath-and-good-technicals/) - I used TC2000 to scan 615 stocks from recent IBD and MarketSmith lists. The scan yielded 24 stocks in strong weekly up-trends with high RS that reached an ATH today. They are worth researching and monitoring if the market strengthens. - [Blog post: Jesse Livermore said: “Finally there came the awful day of reckoning for the bulls and the optimists and the wishful thinkers and those vast hordes that, dreading the pain of a small loss at the beginning, were now about to suffer total amputation—without anesthetics.”](https://wishingwealthblog.com/2022/04/blog-post-jesse-livermore-said-finally-there-came-the-awful-day-of-reckoning-for-the-bulls-and-the-optimists-and-the-wishful-thinkers-and-those-vast-hordes-that-dreading-the-pain-of-a-smal/) - In the past when I took more chances I would wait for the 30 week average to curve down before taking my conservative university pension money out of the market. We have reached that point now with QQQ, DIA, IWM, and maybe SPY. However, as I wrote last November, I began to transfer my university - [Blog post: Day 13 of $QQQ short term up-trend; Treasury bonds cratering as rates rise, see charts; more new lows than highs again; in cash or short](https://wishingwealthblog.com/2022/04/blog-post-day-13-of-qqq-short-term-up-trend-treasury-bonds-cratering-as-rates-rise-see-charts-more-new-lows-than-highs-again-in-cash-or-short/) - The incredible decline in treasuries and higher rates are spooking the markets. Time for me to stay out or go short. - [Blog post: Day 12 of $QQQ short term up-trend; WeeklyGreeBar scan yields one stock: $AMPH, see weekly chart](https://wishingwealthblog.com/2022/04/blog-post-day-12-of-qqq-short-term-up-trend-weeklygreebar-scan-yields-one-stock-amph-see-weekly-chart/) - AMPH hit an ATH and bounced up off of its 4 week average (red dotted line) which is climbing above the 10 and 30 week averages. Note its GLB in February. AMPH has an RS=99 and Composite=95 and EPS=97. If I bought, I would sell if it closes the week below its 4 wk avg=36.49. - [Blog post: Day 11 of $QQQ short term up-trend; $SPY just holding 30 week average, $QQQ, $IWM and $DIA are below; most foreign country ETFs are in down-trends](https://wishingwealthblog.com/2022/04/blog-post-day-11-of-qqq-short-term-up-trend-spy-just-holding-30-week-average-qqq-iwm-and-dia-are-below-most-foreign-country-etfs-are-in-down-trends/) - The SPY is just hanging on to its 30 week average but the 4 wk has crossed above the 10 wk. This week should reveal its likely trend. Remember, we are approaching "Sell in May" time. But the 10/30 weekly chart of the SPY shows a possible change in trend (towards down). I looked - [Blog post: $QQQ, $DIA meet resistance at 30 week average; $SPY holds just above; Failure to hold 30 week average could portend significant Stage 4 decline, see weekly charts](https://wishingwealthblog.com/2022/03/blog-post-qqq-dia-meet-resistance-at-30-week-average-spy-holds-just-above-failure-to-hold-30-week-average-could-portend-significant-stage-4-decline-see-weekly-charts/) - Failure to hold above a declining 30 week average is a very ominous sign of weakness. Too many break-outs are failing. End of quarter mutual fund window dressing is over. Time to be defensive on the sidelines and wait for the signal. The market should reveal its major trend in a week or so. - [Blog post: Day 9 of $QQQ short term up-trend; Time to sell or short the homebuilders? See 10/30 weekly chart of $XHB](https://wishingwealthblog.com/2022/03/blog-post-day-9-of-qqq-short-term-up-trend-time-to-sell-or-short-the-homebuilders-see-10-30-weekly-chart-of-xhb/) - [Blog post: GMI= 6 (of 6) and Day 8 of $QQQ short term up-trend; 10/30 weekly naked chart reveals index and stock trends](https://wishingwealthblog.com/2022/03/blog-post-gmi-6-of-6-and-day-8-of-qqq-short-term-up-trend-10-30-weekly-naked-chart-reveals-index-and-stock-trends/) - A strong up-trend is characterized by the 10 week average rising consistently above the 30 week average. This chart shows just these 2 averages without the price bars (naked). Compare the 2020 bottom with the recent pattern. We are not there yet. To be in an up-trend the 10 week average needs to rise above - [Blog post: Day 7 of $QQQ short term up-trend; $XPOF has GLB on above average volume, see daily and weekly charts](https://wishingwealthblog.com/2022/03/blog-post-day-7-of-qqq-short-term-up-trend-xpof-has-glb-on-above-average-volume-see-daily-and-weekly-charts/) - [Blog post: Day 6 of $QQQ short term up-trend; 10 stocks pass WeeklyGreenBar scan; $FANG and $MP had GLB, see charts](https://wishingwealthblog.com/2022/03/blog-post-day-6-of-qqq-short-term-up-trend-10-stocks-pass-weeklygreenbar-scan-fang-and-mp-had-glb-see-charts/) - These 10 stocks passed my WeeklyGreenBar scan. They came from my IBD/MS lists, had strong weekly technical patterns, near ATH and RS (SPY) at a 20 week high. FANG and MP had a GLB last week. Weekly charts below. The GMI remains on a Green signal - [Blog post: Day 5 of $QQQ short term up-trend; $MP found in scan plus GLB and cup with handle break-out](https://wishingwealthblog.com/2022/03/blog-post-day-5-of-qqq-short-term-up-trend-mp-found-in-scan-plus-glb-and-cup-with-handle-break-out/) - The following six stocks came up in my WeeklyGreenBar scan: MP,CMC,ATSG,SQM,NUE,PANW. My stock buddy, Judy, actually called me about MP before I looked at the scan. MP has a high volume GLB on Thursday. The weekly chart shows a cup with handle break-out. - [Blog post: Day 4 of $QQQ short term up-trend; Five IBD/MS stocks pass WeeklyGreenBar scan: $PANW, $FANG, $NUE, $COP, $TRTN; $FANG has GLB, see chart](https://wishingwealthblog.com/2022/03/blog-post-day-4-of-qqq-short-term-up-trend-five-ibd-ms-stocks-pass-weeklygreenbar-scan-panw-fang-nue-cop-trtn-fang-has-glb-see-chart/) - FANG had a GLB, green line breakout to an ATH, but not on above average volume. See weekly and daily charts. - [Blog post: Day 3 of $QQQ short term up-trend, GMI turns Green; 5 IBD/MS stocks pass WeeklyGreenBar scan: $UNVR, $PANW, $TRTN,$SFBS, $LNTH; $UNVR has GLB](https://wishingwealthblog.com/2022/03/blog-post-day-3-of-qqq-short-term-up-trend-gmi-turns-green-5-ibd-ms-stocks-pass-weeklygreenbar-scan-unvr-panw-trtnsfbs-lnth-unvr-has-glb/) - With the new QQQ short term up-trend in place I am slowly buying TQQQ. While the GMI, at 4, turned Green, it is much stronger when it registers 6 (of 6). The indexes are still not in a Stage 2 up-trend. UNVR had a GLB on Tuesday to an ATH on above average volume. The - [Blog post: Day 2 of $QQQ short term up-trend; 3 IBD/MS stocks pass WeeklyGreen Bar scan: $TRTN, $SQM, $CCK, see weekly charts](https://wishingwealthblog.com/2022/03/blog-post-day-2-of-qqq-short-term-up-trend-3-ibd-ms-stocks-pass-weeklygreen-bar-scan-trtn-sqm-cck-see-weekly-charts/) - This scan looks for stocks that had a strong weekly chart pattern (4wk>10wk>30wk) +20 week high of relative strength + bounce up off of its 4 wk average (red dotted line). Must also be near an ATH=above last green line top. Note the green price bars. These stocks are worth researching. - [Blog post: Day 1 of $QQQ short term up-trend; GMI still Red; 13 stocks pass my WeeklyGreenBar scan: $LNTH,$STLD,$MCK,$MATX,$MOH,$CBZ, $ABBV + 6 others listed....](https://wishingwealthblog.com/2022/03/blog-post-day-1-of-qqq-short-term-up-trend-gmi-still-red-13-stocks-pass-my-weeklygreenbar-scan-lnthstldmckmatxmohcbz-abbv-6-others-listed/) - No one knows whether the market's final bottom is in or if this is just a dead cat bounce. The major indexes are still below their declining 30 week averages. So the longer term trends are down but we now have a short term up-trend. A change in the short term trend is more tradable - [Blog post: Day 49 of $QQQ short term down-trend, it may end Friday; 13 US stocks found by my Weekly Green Bar scan, see list and $STLD](https://wishingwealthblog.com/2022/03/blog-post-day-49-of-qqq-short-term-down-trend-it-may-end-friday-13-us-stocks-found-by-my-weekly-green-bar-scan-see-list-and-stld/) - These stocks all hit an ATH this week and bounced up off of their rising 4 week averages. The seven flagged stocks are on my IBD/MarketSmith watchlist. Here is the daily chart of STLD which came back above its green line to an ATH. It has a composite rating of 98. - [Blog post: IBD declares new market up-trend after follow through day; but the GMI remains= 0, $QQQ is in a Stage 4 down-trend and a daily BWR down-trend, see GMMA chart of the 2020 bottom](https://wishingwealthblog.com/2022/03/blog-post-ibd-declares-new-market-up-trend-after-follow-through-day-but-the-gmi-remains-0-qqq-is-in-a-stage-4-down-trend-and-a-daily-bwr-down-trend-see-gmma-chart-of-the-2020-bottom/) - The oversold rally has begun. Is it the bottom or a dead cat bounce? No one knows. I am a trend follower. I will wait until the major indexes retake their 30 week averages and turn up in new Stage 2 up-trends and the GMI turns Green. I therefore remain on the sideline. Here are - [Blog post: The only industry index in TC2000 passing my ATH and good technicals scan is Medical Distribution, and its 2 component stocks: $ABC and $MCK, see weekly charts](https://wishingwealthblog.com/2022/03/blog-post-the-only-industry-index-in-tc2000-passing-my-ath-and-good-technicals-scan-is-medical-distribution-and-its-2-component-stocks-abc-and-mck-see-weekly-charts/) - Note that all of these are above their last green line tops. I wonder if the medical distribution index is reflecting the sale of medical goods for Ukraine? or a new COVID variant outbreak on the horizon? - [Blog post: Day 46 of $QQQ short term down-trend; $QQQ is in Stage 4 decline, see weekly chart](https://wishingwealthblog.com/2022/03/blog-post-day-46-of-qqq-short-term-down-trend-qqq-is-in-stage-4-decline-see-weekly-chart/) - This looks like the beginning of a significant Stan Weinstein Stage 4 down-trend. Time to be in cash or short. - [Blog post: Short term 1-3 yr treasury bonds, $SHY, in steady daily BWR decline signifying higher interest rates](https://wishingwealthblog.com/2022/03/blog-post-short-term-1-3-yr-treasury-bonds-shy-in-steady-daily-bwr-decline-signifying-higher-interest-rates/) - As these bonds decline, interest rates rise. The GMI remains on a Red signal. - [Blog post: Day 44 of $QQQ short term down-trend; 2 out of 482 IBD/MarketSmith type stocks survived my ATH/GLB scan, see daily charts](https://wishingwealthblog.com/2022/03/blog-post-day-44-of-qqq-short-term-down-trend-2-out-of-482-ibd-marketsmith-type-stocks-survived-my-ath-glb-scan-see-daily-charts/) - There are very few areas of the market showing strength. I ran my TC2000 scan on a watchlist composed of stocks on recent IBD or MarketSmith lists and came up with just 2 stocks. These are stocks having a GLB, green line break-out, to an all-time-high, ATH. They also have RS, relative strength compared with - [Blog post: Day 43 of $QQQ short term down-trend; Major indexes remain in daily BWR down-trends, see charts](https://wishingwealthblog.com/2022/03/blog-post-day-43-of-qqq-short-term-down-trend-major-indexes-remain-in-daily-bwr-down-trends-see-charts/) - [Blog post: Warning ---Major financials are in Stage 4 declines, see weekly charts of $GS, $C, $JPM, $BAC](https://wishingwealthblog.com/2022/03/blog-post-warning-major-financials-are-in-stage-4-declines-see-weekly-charts-of-gs-c-jpm-bac/) - Look at the high volume down weeks in these weekly charts. Many banks look like this. Things are going to get very bad. - [Blog post: Day 41 of $QQQ short term down-trend; With "Sell in May" almost here and T2108=31, I think the selling panic is yet to come, see monthly charts](https://wishingwealthblog.com/2022/03/blog-post-day-41-of-qqq-short-term-down-trend-with-sell-in-may-almost-here-and-t210831-i-think-the-selling-panic-is-yet-to-come-see-monthly-charts/) - My read of the charts suggests that the down-trend has been slow and will likely end in a steep panic. Look at these monthly charts of the SPY and DIA. The markets have a long way to fall and selling volume needs to pick up for this decline to end. Investors have yet to give - [Blog post: Investors Intelligence poll finds more bears than bulls (34.5/29.9%) =extreme bearish sentiment in newsletters, typically found at bottoms; 18 stocks from my ATH scan; GMI=Red.](https://wishingwealthblog.com/2022/03/blog-post-investors-intelligence-poll-finds-more-bears-than-bulls-34-5-29-9-extreme-bearish-sentiment-in-newsletters-typically-found-at-bottoms-18-stocks-from-my-ath-scan-gmired/) - With people being blown up and losing their homes and family and pets, it seems difficult and insensitive for me to focus on making money..... The market will turn when the news is very bad and we least expect it.The fact that there are more bearish than bullish newsletters, a very rare event, suggests that - [Blog post: Day 39 of $QQQ short term down-trend; $SQM has GLB to ATH and cup with handle break-out on above average volume](https://wishingwealthblog.com/2022/03/blog-post-day-39-of-qqq-short-term-down-trend-sqm-has-glb-to-ath-and-cup-with-handle-break-out-on-above-average-volume/) - SQM produces fertilizers and lithium. 2022 earnings expected to be up +100%, composite rating =99 and accum/dist=A+ according to MarketSmith. Stayed above its high set in July, 2011. Worth monitoring.... - [Blog post: Day 38 of $QQQ short term down-trend; Coal is hot--$HCC has GLB to ATH, see chart](https://wishingwealthblog.com/2022/03/blog-post-day-38-of-qqq-short-term-down-trend-coal-is-hot-hcc-has-glb-to-ath-see-chart/) - [Blog post: $GLD in daily RWB up-trend, as is commodity tracking ETF, $DBC](https://wishingwealthblog.com/2022/03/blog-post-gld-in-daily-rwb-up-trend-as-is-commodity-tracking-etf-dbc/) - [Blog post: GMI rises to 2, of 6, and $QQQ still in daily BWR down-trend, see chart](https://wishingwealthblog.com/2022/03/blog-post-gmi-rises-to-2-of-6-and-qqq-still-in-daily-bwr-down-trend-see-chart/) - DIA and SPY also in daily BWR down-trends, not shown. - [Blog post: David, my co-presenter, brilliant colleague of 20+ years died in a freak accident on 2/18; Day 35 of $QQQ short term down-trend; 15 promising stocks to monitor](https://wishingwealthblog.com/2022/02/blog-post-david-my-co-presenter-brilliant-colleague-of-20-years-died-in-a-freak-accident-on-2-18-day-35-of-qqq-short-term-down-trend-15-promising-stocks-to-monitor/) - I am sad to report that David died on 2/18 when the sailboat he and his daughter built in January capsized on a trip towards Baltimore amid huge winds. They both swam to shore but David died quickly of hypothermia and his daughter survived. This is a devastating loss to me, his family and my - [Blog post: Day 34 of $QQQ short term down-trend; major indexes reversed up off of lower daily 2.15 Bollinger Band, likely leading to brief advance, see chart](https://wishingwealthblog.com/2022/02/blog-post-day-34-of-qqq-short-term-down-trend-major-indexes-reversed-up-off-of-lower-daily-2-15-bollinger-band-likely-leading-to-brief-advance-see-chart/) - The bounce Thursday was just like the prior reversals shown with arrows and green price bars. Note that these recent bounces held for a short time only. Upper Bollinger Band is at 369.32 and would have to be penetrated to suggest to me a significant turn. - [Blog post: Day 33 of $QQQ short term down-trend; Weekly RWB up-trend now over, see chart; IBD calls correction](https://wishingwealthblog.com/2022/02/blog-post-day-33-of-qqq-short-term-down-trend-weekly-rwb-up-trend-now-over-see-chart-ibd-calls-correction/) - This decline is just getting started. It is not even as steep as the 2020 decline. Let's see if it turns into a BWR down-trend pattern. Thus far, T2108, now at 21%, is still too high for a bottom. If T2108 falls below 10%, I hope to have the courage to buy a little SPY. - [Blog post: Day 32 of $QQQ short term down-trend; P/C ratio= 1.04, over sold bounce coming?](https://wishingwealthblog.com/2022/02/blog-post-day-32-of-qqq-short-term-down-trend-p-c-ratio-1-04-over-sold-bounce-coming/) - We might get a short bounce. Could be a dead cat bounce. QQQ is on lower daily 15.2 Bollinger Band. Daily 10.4 Stochastic, not shown, is also very oversold, 19.97, and where the index bounces. - [Blog post: Day 31 of $QQQ short term down-trend; Stage 4 down-trend likely, see weekly chart; GMI=0 and Red](https://wishingwealthblog.com/2022/02/blog-post-day-31-of-qqq-short-term-down-trend-stage-4-down-trend-likely-see-weekly-chart-gmi0-and-red/) - Weakest pattern, 4wk - [Blog post: Day 30 of $QQQ short term down-trend; Retest of January 24 low (334.15) imminent](https://wishingwealthblog.com/2022/02/blog-post-day-30-of-qqq-short-term-down-trend-retest-of-january-24-low-334-15-imminent/) - Approaching the lower daily 2.15 BB. Will it hold? Sometimes the low is exceeded and then we get an immediate reversal. - [Blog post: Day 29 of $QQQ short term down-trend; $QQQ's 30 week average curving down--Stage IV decline coming?](https://wishingwealthblog.com/2022/02/blog-post-day-29-of-qqq-short-term-down-trend-qqqs-30-week-average-curving-down-stage-iv-decline-coming/) - A declining 30 week average is a major sign of weakness and could portend a Stage IV decline. That is when I used to transfer to cash in my university pension mutual funds. I already have done so. - [Blog post: Day 28 of $QQQ short term down-trend; Commodities, $DBC, in daily RWB up-trend](https://wishingwealthblog.com/2022/02/blog-post-day-28-of-qqq-short-term-down-trend-commodities-dbc-in-daily-rwb-up-trend/) - [Blog post: Day 27 of $QQQ short term down-trend; $SQQQ up 27% since Day 1 of $QQQ short term down-trend, beating more than 98% of stocks in major indexes.](https://wishingwealthblog.com/2022/02/blog-post-day-27-of-qqq-short-term-down-trend-sqqq-up-27-since-day-1-of-qqq-short-term-down-trend-beating-more-than-98-of-stocks-in-major-indexes/) - Since I called the first day of the QQQ short term down-trend on January 6, the 3x inverse bearish QQQ ETF, SQQQ, has advanced +27%. SQQQ has advanced more than all but 5 of the 350 stocks in my recent IBD/MS watchlist, and all but one of the Nasdaq 100 stocks (ATVI) and the S&P500 - [Blog post: With the GMI on a Red signal since January 10, I see no reason to hold any stocks on the long side. $QQQ has been in a short term down-trend since January 6; Cash is king!](https://wishingwealthblog.com/2022/02/blog-post-with-the-gmi-on-a-red-signal-since-january-10-i-see-no-reason-to-hold-any-stocks-on-the-long-side-qqq-has-been-in-a-short-term-down-trend-since-january-6-cash-is-king/) - [Blog post: Day 25 of $QQQ short term down-trend; $QQQ remains in daily BWR decline](https://wishingwealthblog.com/2022/02/blog-post-day-25-of-qqq-short-term-down-trend-qqq-remains-in-daily-bwr-decline/) - [Blog post: Day 24 of $QQQ short term down-trend; Scan of IBD/MS list finds 5 stocks in weekly up-trends and at ATH: : $MS, $DELL, $ECPG, $MCK, $ABC, see weekly charts](https://wishingwealthblog.com/2022/02/blog-post-day-24-of-qqq-short-term-down-trend-scan-of-ibd-ms-list-finds-5-stocks-in-weekly-up-trends-and-at-ath-ms-dell-ecpg-mck-abc-see-weekly-charts/) - [Blog post: How I use Bollinger Bands to analyze QQQ -- watch out for QQQ around 372; 12 of the 13 stocks from Sunday's scan advanced; 5 new ones](https://wishingwealthblog.com/2022/02/blog-post-how-i-use-bollinger-bands-to-analyze-qqq-watch-out-for-qqq-around-372-12-of-the-13-stocks-from-sundays-scan-advanced-5-new-ones/) - I have the 15.2 daily Bollinger Bands drawn on all of my daily charts. It is basically a confidence interval drawn 2 standard deviations above and below the 15 day moving average of price. According to John Bollinger, about 90% of prices should remain within the 2 bands when he used a 20.2 setting. I - [Blog post: Day 22 of $QQQ short term down-trend; Weekly RWB pattern over for $QQQ](https://wishingwealthblog.com/2022/02/blog-post-day-22-of-qqq-short-term-down-trend-weekly-rwb-pattern-over-for-qqq/) - The last time this happened was during the Covid related decline in 2020. - [Blog post: Scan found 13 out of 350 IBD/MS type stocks that reached ATH last week: $KO and $HSY, see list; Richard Moglen's new interview with @PatrickWalker56 is terrific!](https://wishingwealthblog.com/2022/02/blog-post-scan-found-13-out-of-350-ibd-ms-type-stocks-that-reached-ath-last-week-ko-and-hsy-see-list-richard-moglens-new-interview-with-patrickwalker56-is-terrific/) - I ran my TC2000 scan of stocks on my IBD/MarketSmith watchlist of 350 stocks and it identified the 13 stocks below. These stocks all hit an all-time high last week, have strong weekly chart up-trends and bounced up above their 4 week averages. It is noteworthy that KO and HSY came up. I guess stock - [Blog post: Day 20 of $QQQ short term down-trend; $ARCH- GLB or lump of coal? Friday will tell.](https://wishingwealthblog.com/2022/02/blog-post-day-20-of-qqq-short-term-down-trend-arch-glb-or-lump-of-coal-friday-will-tell/) - [Blog post: Day 19 of $QQQ short term down-trend; chart shows $PYPL in a daily BWR decline since September--I only hold stocks in a daily RWB up-trend](https://wishingwealthblog.com/2022/02/blog-post-day-19-of-qqq-short-term-down-trend-chart-shows-pypl-in-a-daily-bwr-decline-since-september-i-only-hold-stocks-in-a-daily-rwb-up-trend/) - All the shorter term averages (red) should be rising above the longer term averages (blue) with a white space separating them. BWR down-trend is the opposite. - [Blog post: More new highs than lows 70/24; Scan finds 4 at ATH and in strong weekly up-trends: $ZIM, $COP, $MATX, $ABC; see weekly charts](https://wishingwealthblog.com/2022/02/blog-post-more-new-highs-than-lows-70-24-scan-finds-4-at-ath-and-in-strong-weekly-up-trends-zim-cop-matx-abc-see-weekly-charts/) - COP has earnings this week. Note recent GLB (green line break-out to all-time high, ATH). - [Blog post: Day 17 of $QQQ short term down-trend; $QQQ remains in daily BWR decline; IBD calls FTD and resumed up-trend; Link to last week's AAII webinar in blog](https://wishingwealthblog.com/2022/01/blog-post-day-17-of-qqq-short-term-down-trend-qqq-remains-in-daily-bwr-decline-ibd-calls-ftd-and-resumed-up-trend-link-to-last-weeks-aaii-webinar-in-blog/) - Go here to see my AAII Eastern Michigan webinar last week. FTD= IBD follow through day. Therefore IBD thinks this rally has legs. - [Blog post: Day 16 of $QQQ short term down-trend; Some end of decline signs I am looking for; Promising stock scan finds 2 shipping stocks at ATHs: $ZIM and $MATX, see chartss](https://wishingwealthblog.com/2022/01/blog-post-day-16-of-qqq-short-term-down-trend-some-end-of-decline-signs-i-am-looking-for-promising-stock-scan-finds-2-shipping-stocks-at-aths-zim-and-matx-see-chartss/) - Once a significant decline has begun, no one knows when it will end. Now that the QQQ is below its 30 week average (solid red line), the first thing I will look for is a close above that average. But as I showed in last week's AAII Eastern Michigan Chapter webinar (will post link to - [Blog post: Day 15 of $QQQ short term down-trend; 40 new highs and 605 new lows; $IWM in Stage IV decline](https://wishingwealthblog.com/2022/01/blog-post-day-15-of-qqq-short-term-down-trend-40-new-highs-and-605-new-lows-iwm-in-stage-iv-decline/) - Weekly chart. Failed GLB and in Stage IV down-trend. Beware small-caps. - [Blog post: Excellent technical trader and educator, Vas, can now be followed on twitter: @TCLTrader; Short term treasuries, $SHY, in steep daily BWR down-trend = rising interest rates](https://wishingwealthblog.com/2022/01/blog-post-excellent-technical-trader-and-educator-vas-can-now-be-followed-on-twitter-tcltrader-short-term-treasuries-shy-in-steep-daily-bwr-down-trend-rising-interest-rates/) - Vas, a follower of Al Brooks, presents to my students each year. He has amazing expertise in using technical analysis and now shares his thoughts in his tweets..... Look at this adapted GMMA chart of SHY. As bonds decline, interest rates rise. - [Blog post: Day 13 of $QQQ short term down-trend; cash is king](https://wishingwealthblog.com/2022/01/blog-post-day-13-of-qqq-short-term-down-trend-cash-is-king/) - [Blog post: Put/call ratio=1.08 suggesting short term bottom; 5 new highs and 1,308 new lows; $GLD has daily RWB up-trend; get the free recording of my AAII seminar Tuesday evening](https://wishingwealthblog.com/2022/01/blog-post-put-call-ratio1-08-suggesting-short-term-bottom-5-new-highs-and-1308-new-lows-gld-has-daily-rwb-up-trend-get-the-free-recording-of-my-aaii-seminar-tuesday-evening/) - Register for my Tuesday evening Eastern Michigan AAII seminar here and get the free recording. The gold ETF, GLD, has a daily RWB up-trend and shows two days of unusually high volume advances in the past 4 days. People often buy gold when they get scared. I will tell you during the webinar how I - [Blog post: 30 week average of $QQQ just starting to curve down; typically happens at the BEGINNING of a significant decline; Register for my AAII webinar below.](https://wishingwealthblog.com/2022/01/blog-post-30-week-average-of-qqq-just-starting-to-curve-down-typically-happens-at-the-beginning-of-a-significant-decline-register-for-my-aaii-webinar-below/) - The charts tell a dire story. All major indexes ($IWM, $DIA, $SPY, $QQQ) are below their critical 30 week moving averages, which are beginning to curve down. A moving average turns down when the current period's value being added to the total is below the value of the furthest period being dropped. The fact that - [Blog post: $SPY, $DIA and $QQQ close below 30 week averages; These charts show how easy it was to avoid the declines in $NFLX and $ARKK---technicals work! Come to my free AAII webinar.](https://wishingwealthblog.com/2022/01/blog-post-spy-dia-and-qqq-close-below-30-week-averages-these-charts-show-how-easy-it-was-to-avoid-the-declines-in-nflx-and-arkk-technicals-work-come-to-my-free-aaii-webinar/) - This weekly chart shows that NFLX, which dived tonight after earnings, should have been sold 2 weeks ago when it closed below its 30 week average (red solid line) and below its green line (a failed green line break-out, GLB). These signals help me to avoid major declines. I hold no stock or ETF below - [Blog post: Day 9 of $QQQ short term down-trend; GMI=0 for first time since April, 2020! P/C ratio and Gold moving higher; Market oversold, watch out for "dead cat" bounces](https://wishingwealthblog.com/2022/01/blog-post-day-9-of-qqq-short-term-down-trend-gmi0-for-first-time-since-april-2020-p-c-ratio-and-gold-moving-higher-market-oversold-watch-out-for-dead-cat-bounces/) - People buy gold as their fear increases but GLD remains far below ATH (all-time-high) of 194.45. - [Blog post: Register for my free AAII presentation on 1/25; Day 8 of $QQQ short term down-trend; GMI=1, IBD calls market correction; $QQQ below 30 week average, see chart; in cash](https://wishingwealthblog.com/2022/01/blog-post-register-for-my-free-aaii-presentation-on-1-25-day-8-of-qqq-short-term-down-trend-gmi1-ibd-calls-market-correction-qqq-below-30-week-average-see-chart-in-cash/) - Next Tuesday at 7 PM I will present to the Eastern Michigan AAII group. Register here free. As bad as things look, the real decline may be yet to come. Below is the weekly chart of QQQ. When/if the 30 week average (red solid line) turns down it would signal to me the beginning of - [Blog post: Day 7 of $QQQ short term down-trend; GMI remains Red, $SPY closes below 10 week average and $QQQ holds above 30 week average, see weekly chart](https://wishingwealthblog.com/2022/01/blog-post-day-7-of-qqq-short-term-down-trend-gmi-remains-red-spy-closes-below-10-week-average-and-qqq-holds-above-30-week-average-see-weekly-chart/) - Let's see if QQQ can stay above its 30 week average (red solid line) this week. Last week was a high volume advance. - [Blog post: Day 6 of $QQQ short term down-trend; $QQQ sitting on 30 week average, closing this week below it could signal BEGINNING of Stage IV decline](https://wishingwealthblog.com/2022/01/blog-post-day-6-of-qqq-short-term-down-trend-qqq-sitting-on-30-week-average-closing-this-week-below-it-could-signal-beginning-of-stage-iv-decline/) - The major technical signal that got me out of the 2000 and 2008 declines early was the 30 week average curving down, indicating a Stage IV down-trend. We are not there yet but it begins with closes below that important average. The major part of the decline could still be ahead of us. Friday's close - [Blog post: Day 5 of $QQQ short term down-trend; GLB: $ZIM, must hold 62.20, see daily and weekly charts](https://wishingwealthblog.com/2022/01/blog-post-day-5-of-qqq-short-term-down-trend-glb-zim-must-hold-62-20-see-daily-and-weekly-charts/) - [Blog post: Day 4 of $QQQ short term down-trend; This adapted daily GMMA chart of $QQQ shows no RWB or BWR pattern](https://wishingwealthblog.com/2022/01/blog-post-day-4-of-qqq-short-term-down-trend-this-adapted-daily-gmma-chart-of-qqq-shows-no-rwb-or-bwr-pattern/) - Dots are daily lows. dotted line is daily close. - [Blog post: Day 3 of $QQQ short term down-trend; GMI turns Red; $QQQ holds 30 week average--for now, see chart](https://wishingwealthblog.com/2022/01/blog-post-day-3-of-qqq-short-term-down-trend-gmi-turns-red-qqq-holds-30-week-average-for-now-see-chart/) - [Blog post: The weekly charts of $QQQ, $DIA and $SPY show each having three heavy volume down weeks, suggesting distribution; And the GMI could turn Red by Monday's close; These greatest traders "sell too soon."](https://wishingwealthblog.com/2022/01/blog-post-the-weekly-charts-of-qqq-dia-and-spy-show-each-having-three-heavy-volume-down-weeks-suggesting-distribution-and-the-gmi-could-turn-red-by-mondays-close-these-greatest-traders-sell/) - QQQ is approaching its critical 30 week moving average (red solid line), now at 375.59. A weekly close below that level would get me out of everything, even in my university pension, which is already reduced to about 20% invested in mutual funds. The three huge volume down weeks which I have annotated in all - [Blog post: Day 1 of $QQQ short term down-trend; holding $SQQQ and cash; see BWR patterns in hourly charts for $QQQ, $AAPL, $SPY and GMMA video](https://wishingwealthblog.com/2022/01/blog-post-day-1-of-qqq-short-term-down-trend-holding-sqqq-and-cash-see-bwr-patterns-in-hourly-charts-for-qqq-aapl-spy-and-gmma-video/) - I usually look at the adapted GMMA daily and weekly charts to see the trend of the market or individual equities. However, for timing entries and exits, the hourly GMMA may prove useful. Check out the clear hourly blue-white-red (BWR) down-trends in QQQ and AAPL and SPY. My former student, Richard Moglen, has a tutorial - [Blog post: $QQQ short term up-trend likely to end Thursday; see $SHY in Stage IV decline and $TLT, indicating rising interest rates](https://wishingwealthblog.com/2022/01/blog-post-qqq-short-term-up-trend-likely-to-end-thursday-see-shy-in-stage-iv-decline-and-tlt-indicating-rising-interest-rates/) - I had felt that when the Fed announced it was tapering and raising rates, it did not make sense for me to be long stocks. Most break-outs have failed. So I have been mainly in cash in my trading accounts. I own some SQQQ. I have also been reducing exposure in my university retirement accounts. - [Blog post: Rotation away from popular techs, but semiconductors strong : $ON, $ONTO, $AOSL, see $MU monthly/weekly charts](https://wishingwealthblog.com/2022/01/blog-post-rotation-away-from-popular-techs-but-semiconductors-strong-on-onto-aosl-see-mu-monthly-weekly-charts/) - MU is heading toward its ATH of $97.50 reached at the top in 2000. See monthly and weekly charts. Will it have a GLB? - [Blog post: Day 7 of $QQQ short term up-trend; $TSLA breaks above descending trend line; $GLD falters as the dollar, $UUP, rises as bonds, $TLT, swoon with rising interest rates](https://wishingwealthblog.com/2022/01/blog-post-day-7-of-qqq-short-term-up-trend-tsla-breaks-above-descending-trend-line-gld-falters-as-the-dollar-uup-rises-as-bonds-tlt-swoon-with-rising-interest-rates/) - [Blog post: Day 5 of $QQQ short term up-trend; All GMI components are positive; When I saw that some media pundits were saying that buying gold is no longer a good hedge, I looked at the gold ETF. $GLD is back in a daily RWB up-trend (see chart) ; could the media pundits be wrong yet again??](https://wishingwealthblog.com/2022/01/blog-post-day-5-of-qqq-short-term-up-trend-all-gmi-components-are-positive-when-i-saw-that-some-media-pundits-were-saying-that-buying-gold-is-no-longer-a-good-hedge-i-looked-at-the-gold-etf-gl/) - [Blog post: Day 4 of $QQQ short term up-trend; Seeing strength in rails, $NSC, $CSX, $UNP at all-time highs, see weekly charts](https://wishingwealthblog.com/2021/12/blog-post-day-4-of-qqq-short-term-up-trend-seeing-strength-in-rails-nsc-csx-unp-at-all-time-highs-see-weekly-charts/) - All have had recent GLBs. Weekly charts. - [Blog post: Day 3 of $QQQ short term up-trend; $EDR, IPO in 2021, retakes green line after recent GLB, see daily chart](https://wishingwealthblog.com/2021/12/blog-post-day-3-of-qqq-short-term-up-trend-edr-ipo-in-2021-retakes-green-line-after-recent-glb-see-daily-chart/) - MarketSmith indicates EPS expected to grow +650% in 2021 and +47% in 2022. GLB occurred without increased volume though. - [Blog post: Day 2 of $QQQ short term up-trend; GMI turns Green; $WFG had GLB, tweeted it intraday, see chart](https://wishingwealthblog.com/2021/12/blog-post-day-2-of-qqq-short-term-up-trend-gmi-turns-green-wfg-had-glb-tweeted-it-intraday-see-chart/) - If you follow my tweets, @WishingWealth, you may get an intraday notice when an alert I set up in TC2000 is triggered. This morning I tweeted out that WFG had a GLB when it was trading at 92.66. WFG closed the day at 96.83. Not all alerts work out so well, but I send out - [Blog post: Day 1 of $QQQ short term up-trend; GMI could turn Green by Monday's close; $QQQ to enter daily RWB up-trend?](https://wishingwealthblog.com/2021/12/blog-post-day-1-of-qqq-short-term-up-trend-gmi-could-turn-green-by-mondays-close-qqq-to-enter-daily-rwb-up-trend/) - [Blog post: Day 7 of $QQQ short term down-trend but could end on Thursday; $QQQ has green and black dot over sold bounce signals, and $CURE retakes green line, see daily charts](https://wishingwealthblog.com/2021/12/blog-post-day-7-of-qqq-short-term-down-trend-but-could-end-on-thursday-qqq-has-green-and-black-dot-over-sold-bounce-signals-and-cure-retakes-green-line-see-daily-charts/) - [Blog post: Day 6 of $QQQ short term down-trend; On Monday, I tweeted that $VCRA had retested its GLB, see my TC2000 scan for finding such stocks](https://wishingwealthblog.com/2021/12/blog-post-day-6-of-qqq-short-term-down-trend-on-monday-i-tweeted-that-vcra-had-retested-its-glb-see-my-tc2000-scan-for-finding-such-stocks/) - You may want to follow my intraday tweets @WishingWealth. I tweet intraday when I see something interesting--no guarantees! Do your own research. I have a simple formula I wrote for TC2000 that finds any stock that reaches an ATH in the past 100 days (use price new high built-in condition set to 250 month high - [Blog post: Day 5 of $QQQ short term down-trend; Ominous sign--so many banks in BWR down-trends, see charts of $C and $JPM](https://wishingwealthblog.com/2021/12/blog-post-day-5-of-qqq-short-term-down-trend-ominous-sign-so-many-banks-in-bwr-down-trends-see-charts-of-c-and-jpm/) - [Blog post: Day 4 of $QQQ short term down-trend; GMI= 2 and could turn Red on Monday; Daily RWB for QQQ gone, see chart](https://wishingwealthblog.com/2021/12/blog-post-day-4-of-qqq-short-term-down-trend-gmi-2-and-could-turn-red-on-monday-daily-rwb-for-qqq-gone-see-chart/) - [Blog post: Day 3 of $QQQ short term down-trend; Break-outs failing; On sideline](https://wishingwealthblog.com/2021/12/blog-post-day-3-of-qqq-short-term-down-trend-break-outs-failing-on-sideline/) - [Blog post: GMI stays Green; IBD signals confirmed up-trend; After Fed, on to likely year-end rally and end of quarter window dressing; $ANET powers to ATH, see chart](https://wishingwealthblog.com/2021/12/blog-post-gmi-stays-green-ibd-signals-confirmed-up-trend-after-fed-on-to-likely-year-end-rally-and-end-of-quarter-window-dressing-anet-powers-to-ath-see-chart/) - ANET had a huge gap up after earnings on November 2nd, then had a 4 for 1 split and entered a 5 week consolidation, culminating in black and green dot oversold signals. It broke to an all-time-high (ATH) with Wednesday's rally. I have a position. - [Blog post: Indicators whipsawing; New $QQQ short term down trend; GMI could turn Red on Wednesday; Daily RWB of QQQ failing, see chart](https://wishingwealthblog.com/2021/12/blog-post-indicators-whipsawing-new-qqq-short-term-down-trend-gmi-could-turn-red-on-wednesday-daily-rwb-of-qqq-failing-see-chart/) - Daily RWB pattern is failing. Note last October rise where QQQ closed each day (dotted line) above all averages. That is what we are looking for in a meaningful reversal. - [Blog post: Day 4 of $QQQ short term up-trend, but may end Tuesday; But GMI turns Green; GLB: $EXPD, see weekly chart](https://wishingwealthblog.com/2021/12/blog-post-day-4-of-qqq-short-term-up-trend-but-may-end-tuesday-but-gmi-turns-green-glb-expd-see-weekly-chart/) - QQQ is right on support. By week's end we will find out if the market rallies or swoons. It may wait until after the Fed reports on Wednesday at 2:00 PM. Meanwhile EXPD had a GLB. Check out its weekly chart. Must not close below 130.76. - [Blog post: Day 3 of $QQQ short term up-trend; GMI could turn Green Monday; Short term treasuries ($SHY) in daily BWR down-trend](https://wishingwealthblog.com/2021/12/blog-post-day-3-of-qqq-short-term-up-trend-gmi-could-turn-green-monday-short-term-treasuries-shy-in-daily-bwr-down-trend/) - With SHY falling, short term interest rates are rising. This makes sense with the Fed reporting they are ready to enhance tapering of bond buying and to raise rates. With the GMI=4, it could flash a Green signal with another day above 3. - [See my presentation to AAII Chapter at RTI, Tomorrow, Sat 10 AM, EST. Register free: https://us02web.zoom.us/webinar/register/WN_LYUNGn1mT7-yIttWUVI_-A](https://wishingwealthblog.com/2021/12/see-my-presentation-to-aaii-chapter-at-rti-tomorrow-sat-10-am-est-register-free-https-us02web-zoom-us-webinar-register-wn_lyungn1mt7-yittwuvi_-a/) - Link: https://us02web.zoom.us/webinar/register/WN_LYUNGn1mT7-yIttWUVI_-A - [Blog post: How the market responds to the CPI number on Friday will reveal much about the market; Is $QQQ setting up for H+S top? See daily chart..](https://wishingwealthblog.com/2021/12/blog-post-how-the-market-responds-to-the-cpi-number-on-friday-will-reveal-much-about-the-market-is-qqq-setting-up-for-hs-top-see-daily-chart/) - A head and shoulders top is a significant technical pattern. It is possible that QQQ is setting up for this type of top. The fact that the neckline (purple line) is sloping down also signifies more potential weakness. On the other hand, if the right shoulder is exceeded, it is off to the races. It - [Blog post: Day 1 of new $QQQ short term up-trend and a daily RWB up-trend, but GMI still Red](https://wishingwealthblog.com/2021/12/blog-post-day-1-of-new-qqq-short-term-up-trend-and-a-daily-rwb-up-trend-but-gmi-still-red/) - I want to see the GMI turn Green before I trade on the new QQQ up-trend. But notice the beginning of a daily RWB up-trend for QQQ. - [Blog post: Day 4 of $QQQ short term down-trend; 115 new highs and 26 new lows; But short term treasuries continue to fall, see charts of $SHY](https://wishingwealthblog.com/2021/12/blog-post-day-4-of-qqq-short-term-down-trend-115-new-highs-and-26-new-lows-but-short-term-treasuries-continue-to-fall-see-charts-of-shy/) - If SHY declines, short term rates are rising. Fed meeting next week. Be careful. Was today a dead cat bounce for the markets? Weekly chart. - [Blog post: Day 3 of $QQQ short term down-trend; 71 new highs, 518 new US lows; Use daily modified GMMA chart to detect end of decline, see charts](https://wishingwealthblog.com/2021/12/blog-post-day-3-of-qqq-short-term-down-trend-71-new-highs-518-new-us-lows-use-daily-modified-gmma-chart-to-detect-end-of-decline-see-charts/) - This modified GMMA daily chart shows 6 shorter term exponential moving averages (red lines) and 6 longer term averages (blue lines). I have added a dotted line that shows each daily close. After a large decline, a close back above all of the averages (shown by arrows) can signal a new up-trend. Right now we - [Blog post: Day 2 of $QQQ short term down-trend, 608 new lows 36 highs Friday; GMI is RED, IBD calls market in correction. But p/c ratio= 1.0. Much easier to make money trading long when the GMI is on a Green signal; Weekly charts: DIA, QQQ, SPY, IWM.](https://wishingwealthblog.com/2021/12/blog-post-day-2-of-qqq-short-term-down-trend-608-new-lows-36-highs-friday-gmi-is-red-ibd-calls-market-in-correction-but-p-c-ratio-1-0-much-easier-to-make-money-trading-long-when-the-gmi-is-on/) - The GMI-2 actually climbed from 2 to 4 on Friday. That is because two of my daily stochastic indicators (10.1 and 10.4) reached very oversold levels. In addition, the put/call ratio on Friday registered 1.00. A ratio above 1 usually leads to a bounce in the market. It means that traders are buying as many - [Blog post: GMI=1 and RED; Day 1 of $QQQ short term down; Nibbling at $SQQQ; 17 new highs, 529 new lows; P/C ratio=.84; but QQQ in longer term Stage II up-trend](https://wishingwealthblog.com/2021/12/blog-post-gmi1-and-red-day-1-of-qqq-short-term-down-nibbling-at-sqqq-17-new-highs-529-new-lows-p-c-ratio-84-but-qqq-in-longer-term-stage-ii-up-trend/) - When I get a new QQQ short term down-trend I buy a little SQQQ. It is a low risk trade because if the down-trend ends quickly I will have a very small loss. In the past, 40% of new QQQ short term down-trends ended within 5 days. If this one reaches day 5, I will - [Blog post: Day 32 of $QQQ short term up-trend, likely to end on Thursday; GMI turns Red; $QQQ daily RWB almost gone, see charts; 53 new highs and 564 new US lows on Wednesday](https://wishingwealthblog.com/2021/12/blog-post-day-32-of-qqq-short-term-up-trend-likely-to-end-on-thursday-qqq-daily-rwb-almost-gone-see-charts-53-new-highs-and-564-new-us-lows-on-wednesday/) - [Blog post: 28 new highs and 597 new lows, most since 1,056 on 3/23/2020; Only 4 stocks of the NASADQ 100 rose on Tuesday--$TSLA, $AAPL, $TCOM and $CHKP; Investors are taking cover in $AAPL and $TSLA. When these "safe" stocks finally crater we will know we are near a bottom; the Bear gets around to every stock](https://wishingwealthblog.com/2021/11/blog-post-28-new-highs-and-597-new-lows-most-since-1056-on-3-23-2020-only-4-stocks-of-the-nasadq-100-rose-on-tuesday-tsla-aapl-tcom-and-chkp-investors-are-taking-cover-in-aapl-and-tsla/) - [Blog post: Day 30 of $QQQ short term up-trend; but 343 new lows and 43 new highs in US stocks; bonds still rallying; remain defensive](https://wishingwealthblog.com/2021/11/blog-post-day-30-of-qqq-short-term-up-trend-but-343-new-lows-and-43-new-highs-in-us-stocks-bonds-still-rallying-remain-defensive/) - [Blog post; Day 29 of $QQQ short term up-trend; GMI=2 and could turn Red on Monday; Mainly in cash, check out my indicators](https://wishingwealthblog.com/2021/11/blog-post-day-29-of-qqq-short-term-up-trend-gmi2-and-could-turn-red-on-monday-mainly-in-cash-check-out-my-indicators/) - I have written often that I am a chicken these days with my trading account, as I get closer to retiring. I hold three very small positions on stocks that bounced from oversold and held on Friday. If they fail to hold their bounces on Monday I will be stopped out and 100% in cash. - [Blog post: Day 28 of $QQQ short term up-trend; On Wednesday $QQQ found support at 21day exp moving average, see chart--will it hold? Day after Thanksgiving is typically up.](https://wishingwealthblog.com/2021/11/blog-post-day-28-of-qqq-short-term-up-trend-on-wednesday-qqq-found-support-at-21day-exp-moving-average-see-chart-will-it-hold-day-after-thanksgiving-is-typically-up/) - [Blog post: Day 27 of $QQQ short term up-trend, 419 new lows and 105 new highs among US stocks Tuesday; 89% successful new lows from 10 days ago, 45% successful new 10 day highs; Dollar, $UUP, now in daily RWB up-trend along with higher interest rates and $GLD therefore weakens](https://wishingwealthblog.com/2021/11/blog-post-day-27-of-qqq-short-term-up-trend-419-new-lows-and-105-new-highs-among-us-stocks-tuesday-89-successful-new-lows-from-10-days-ago-45-successful-new-10-day-highs-dollar-uup-now-in-da/) - When interest rates rise, foreign traders buy dollars to invest in dollar denominated instruments and to receive the higher interest. As dollar rises in value gold price (GLD) declines because it takes fewer of the more valuable dollars to buy an ounce of gold. - [Blog post: Day 26 of $QQQ short term up-trend but there were 438 new lows and 232 new highs among US stocks on Monday; rates to rise and kill the bull; in cash in my trading account, see ominous chart of $SHY](https://wishingwealthblog.com/2021/11/blog-post-day-26-of-qqq-short-term-up-trend-but-there-were-438-new-lows-and-232-new-highs-among-us-stocks-on-monday-rates-to-rise-and-kill-the-bull-in-cash-in-my-trading-account-see-ominous-char/) - I regret that I changed the word scared to concerned in yesterday's post when I characterized my current take on the market. With 438 new lows and 232 new highs registered Monday, I am even more concerned/scared about the market's near term future. I have been reviewing the perspicacious writings of Marty Zweig and Ned - [Blog post: Day 25 of $QQQ short term up-trend; I started this blog in 2006 to share with people what I was doing in the market, having escaped the 2000 market carnage and later, that in 2008. I am concerned by what I see right now. See my blog for details.](https://wishingwealthblog.com/2021/11/blog-post-day-25-of-qqq-short-term-up-trend-i-started-this-blog-in-2006-to-share-with-people-what-i-was-doing-in-the-market-having-escaped-the-2000-market-carnage-and-later-that-in-2008-i-am-con/) - In the past I have exited stocks when the major indexes had appeared to be entering Weinstein Stage IV down-trends. This I would determine when a major index, usually QQQ, had a declining 30 week moving average. A declining 30 week moving average occurs when the latest week's price being added to the average is - [Blog post: For 2 days in a row there have been more daily new lows than new highs--are the indexes masking internal weakness?](https://wishingwealthblog.com/2021/11/blog-post-for-2-days-in-a-row-there-have-been-more-daily-new-lows-than-new-highs-are-the-indexes-masking-internal-weakness/) - Since the start of the current $QQQ short term up-trend on 10/18 there have been more new highs than lows each day until the past 2 days. I think this could be a danger sign. The past 2 days only 34% and 27% of US stocks closed higher. Something is up. This weekly chart shows - [Day23 of $QQQ short term up-trend; daily 12/26/9 MACD histograms have turned negative for $DIA, $IWM and $SPY, and $QQQ is on the edge.](https://wishingwealthblog.com/2021/11/day23-of-qqq-short-term-up-trend-daily-12-26-9-macd-histograms-have-turned-negative-for-dia-iwm-and-spy-and-qqq-is-on-the-edge/) - This is the histogram for DIA. The histograms are showing weakening momentum in the short term up-trend. - [Blog post: Day 22 of $QQQ short term up-trend; GLB: $HAYW, Estimated 2021 EPS +479%, COMP: 98 making a big splash!](https://wishingwealthblog.com/2021/11/blog-post-day-22-of-qqq-short-term-up-trend-glb-hayw-estimated-2021-eps-479-comp-98-making-a-big-splash/) - Daily and monthly charts. Flag pattern? Massive daily volume on GLB. - [Blog post: Day 21 of $QQQ short term up-trend; GLB: $DLTR, see weekly chart](https://wishingwealthblog.com/2021/11/blog-post-day-21-of-qqq-short-term-up-trend-glb-dltr-see-weekly-chart/) - [Blog post: Day 20 of $QQQ short term up-trend; Watching $SEDG as it nears green line top, will it break through to an all time high? If so, I will tweet out an alert intraday, if you follow me @wishingwealth. Thanks to MarketSmith for alerting me to SEDG](https://wishingwealthblog.com/2021/11/blog-post-day-20-of-qqq-short-term-up-trend-watching-sedg-as-it-nears-green-line-top-will-it-break-through-to-an-all-time-high-if-so-i-will-tweet-out-an-alert-intraday-if-you-follow-me-wishi/) - I put an alert in TC2000 to text me if SEDG has a GLB (green line break-out). I intend to tweet it out as soon as I get the signal. Solar has been hot lately, (pun intended). See the weekly chart below. MarketSmith listed SEDG under their Stock Ideas tab as a stock near a - [Blog post: Day 19 of $QQQ short term up-trend; $BGFV continues to rise after GLB; weekly chart shows above average trading volume](https://wishingwealthblog.com/2021/11/blog-post-day-19-of-qqq-short-term-up-trend-bgfv-continues-to-rise-after-glb-weekly-chart-shows-above-average-trading-volume/) - [Blog post; Day 18 of $QQQ short term up-trend; When there are so many air pockets revealed in stocks, it can indicate a weakening market. Be careful and on defense.](https://wishingwealthblog.com/2021/11/blog-post-day-18-of-qqq-short-term-up-trend-when-there-are-so-many-air-pockets-revealed-in-stocks-it-can-indicate-a-weakening-market-be-careful-and-on-defense/) - [Blog post: Day 17 of $QQQ short term up-trend; GLBs Tuesday: $S, $BGFV, $ESTC, $MNDY, $RBLX, see daily charts](https://wishingwealthblog.com/2021/11/blog-post-day-17-of-qqq-short-term-up-trend-glbs-tuesday-s-bgfv-estc-mndy-rblx-see-daily-charts/) - [Blog post: Day 16 of $QQQ short term up-trend; Watching $PGNY for possible GLB break-out follow through, see weekly chart, tweeted $WMS GLB yesterday](https://wishingwealthblog.com/2021/11/blog-post-day-16-of-qqq-short-term-up-trend-watching-pgny-for-possible-glb-break-out-follow-through-see-weekly-chart-tweeted-wms-glb-yesterday/) - PGNY earnings expected to be up +200% this year. Receive my tweets intraday: @WishingWealth - [Blog post: Day 15 of $QQQ short term up-trend; Hot market, 507 US stocks with new highs Friday; Some growth stocks with GLB breaking out of nice multi-week bases: $AMAT, $NXST, $MCHP, $AFG, $SI, $FFIN, see weekly charts; GMI is 6 of 6 and Green](https://wishingwealthblog.com/2021/11/blog-post-day-15-of-qqq-short-term-up-trend-hot-market-507-us-stocks-with-new-highs-friday-some-growth-stocks-with-glb-breaking-out-of-nice-multi-week-bases-amat-nxst-mchp-afg-si-ffin/) - This market is getting very frothy. I am watching for the Fed to raise rates and kill the bull. But the GMI remains strong for now... I took some time this weekend to look at my watchlist of recent IBD50 and MarketSmith250 growth stock lists and found 6 stocks that merit further research. All had - [Blog post: Day 14 of $QQQ short term up-trend; $TQQQ strategy beats most stocks again; Since 10/18, TQQQ + 21.7%, beating 98% of Nasdaq100 stocks, and 99% of S&P500 stocks](https://wishingwealthblog.com/2021/11/blog-post-day-14-of-qqq-short-term-up-trend-tqqq-strategy-beats-most-stocks-again-since-10-18-tqqq-21-7-beating-98-of-nasdaq100-stocks-and-99-of-sp500-stocks/) - I have demonstrated repeatedly that during a QQQ short term up-trend, its triple leveraged ETF outperforms almost all individual stocks. Why search for the rare stock that can beat TQQQ? If we are in it to make money rather than satisfying our egos, we should just buy TQQQ. But TQQQ also falls 3x faster than - [Blog post: Day 13 of $QQQ short term up-trend; Stage analysis works--$Z has been in Weinstein Stage IV since June--one should have been out or short $Z long before Wednesday's steep decline, see weekly chart](https://wishingwealthblog.com/2021/11/blog-post-day-13-of-qqq-short-term-up-trend-stage-analysis-works-z-has-been-in-weinstein-stage-iv-since-june-one-should-have-been-out-or-short-z-long-before-wednesdays-steep-decline-see-week/) - This is why I follow stage analysis. I never hold any equity below its 30 week moving average (red line, weekly chart). - [Blog post: Day 12 of $QQQ short term up-trend; GLB: $AX](https://wishingwealthblog.com/2021/11/blog-post-day-12-of-qqq-short-term-up-trend-glb-ax/) - [Blog post: Day 11 of $QQQ short term up-trend; GLB signaled $TSLA's break-out; Will it work for $SI? See charts.](https://wishingwealthblog.com/2021/11/blog-post-day-11-of-qqq-short-term-up-trend-glb-signaled-tslas-break-out-will-it-work-for-si-see-charts/) - [Blog post: Day 10 of $QQQ short term up-trend; $QQQ in strong daily RWB advance; GMI remains Green, at 6 of 6](https://wishingwealthblog.com/2021/10/blog-post-day-10-of-qqq-short-term-up-trend-qqq-in-strong-daily-rwb-advance-gmi-remains-green-at-6-of-6/) - [Blog post: Day 9 of $QQQ short term up-trend; $CSV break out to ATH on earnings, see chart](https://wishingwealthblog.com/2021/10/blog-post-day-9-of-qqq-short-term-up-trend-csv-break-out-to-ath-on-earnings-see-chart/) - [Blog post: Day 8 of $QQQ short term up-trend; Hourly chart shows massive selling end-of-day Wednesday for $QQQ and $SPY](https://wishingwealthblog.com/2021/10/blog-post-day-8-of-qqq-short-term-up-trend-hourly-chart-shows-massive-selling-end-of-day-wednesday-for-qqq-and-spy/) - [Blog post: Day 7 of $QQQ short term up-trend; $DEN holds GLB, see chart](https://wishingwealthblog.com/2021/10/blog-post-day-7-of-qqq-short-term-up-trend-den-holds-glb-see-chart/) - [Blog post: Day 6 of $QQQ short term up-trend; $TSLA had GLB on Friday, $DEN on Monday](https://wishingwealthblog.com/2021/10/blog-post-day-6-of-qqq-short-term-up-trend-tsla-had-glb-on-friday-den-on-monday/) - Weekly charts. - [Blog post: Day 5 of $QQQ short term up-trend; Daily RWB pattern in place-see chart](https://wishingwealthblog.com/2021/10/blog-post-day-5-of-qqq-short-term-up-trend-daily-rwb-pattern-in-place-see-chart/) - [Blog post: Day 4 of $QQQ short term up-trend; $SPY (and $DIA) back in daily RWB up-trends, see chart](https://wishingwealthblog.com/2021/10/blog-post-day-4-of-qqq-short-term-up-trend-spy-and-dia-back-in-daily-rwb-up-trends-see-chart/) - [Blog post: Day 3 of $QQQ short term up-trend; 20 year treasury bonds, $TLT, in daily BWR down-trend, see chart](https://wishingwealthblog.com/2021/10/blog-post-day-3-of-qqq-short-term-up-trend-20-year-treasury-bonds-tlt-in-daily-bwr-down-trend-see-chart/) - Higher interest rates on the horizon. Can't be good for equities. - [Blog post: Day 2 of $QQQ short term up-trend; slowly buying $TQQQ](https://wishingwealthblog.com/2021/10/blog-post-day-2-of-qqq-short-term-up-trend-slowly-buying-tqqq/) - [Blog post: Day 1 of new $QQQ short term up-trend; Daily GMMA pattern looking good, see chart](https://wishingwealthblog.com/2021/10/blog-post-day-1-of-new-qqq-short-term-up-trend-daily-gmma-pattern-looking-good-see-chart/) - [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.](https://wishingwealthblog.com/2021/10/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/) - 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 - [Blog post: GMI signal could turn Green by Friday's close; so many break-outs occurring; $QQQ closes above all 12 daily RWB averages](https://wishingwealthblog.com/2021/10/blog-post-gmi-signal-could-turn-green-by-fridays-close-so-many-break-outs-occurring-qqq-closes-above-all-12-daily-rwb-averages/) - [Blog post: Day 17 of $QQQ short term down-trend but so many green shoots at ATHs: $DDOG, $NET, $PNFP, $LKQ, $DT, $ANET, $CALX](https://wishingwealthblog.com/2021/10/blog-post-day-17-of-qqq-short-term-down-trend-but-so-many-green-shoots-at-aths-ddog-net-pnfp-lkq-dt-anet-calx/) - [Blog post: Day 16 of $QQQ short term down-trend; But $UPST moving up after green and black dot signals, see chart. Masked by the the indexes, many promising stocks are setting up. See $INMD chart too](https://wishingwealthblog.com/2021/10/blog-post-day-16-of-qqq-short-term-down-trend-but-upst-moving-up-after-green-and-black-dot-signals-see-chart-masked-by-the-the-indexes-many-promising-stocks-are-setting-up-see-inmd-chart-too/) - UPST took off after its last earnings release in early August. This year's earnings are projected to rise +893%. I missed the rise last August and was waiting for the stock to become oversold and to bounce. That is what the dots show. When earnings are released on November 9, we could see a repeat. - [Blog post: Day 15 of $QQQ short term down-trend; $QQQ has entered a daily BWR down-trend; Must hold 30 week average, now around 352.11](https://wishingwealthblog.com/2021/10/blog-post-day-15-of-qqq-short-term-down-trend-qqq-has-entered-a-daily-bwr-down-trend-must-hold-30-week-average-now-around-352-11/) - Notice all short term averages (red) are declining below the longer term averages (blue), hence BWR pattern. - [Blog post: See new Rising Stochastics tutorial on Youtube; It is easy to get swept up in a declining market and miss the gems that are already showing strength--they are like a basketballs held under water that will explode up when the market turns up and releases them; Last week there were 10 possible growth stocks that I noticed had a GLB, breaking out to all time highs that I intend to monitor:$BLDR,$FOCS,$LPLA,$MC,$TBBK,$KFRC,$WAL,$UMBF,$SF,$CASH; also watching $UPST for a GLB; here are some charts](https://wishingwealthblog.com/2021/10/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/) - 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 - [Blog post: Day 13 of $QQQ short term down-trend; $TLT in steep decline indicating higher interest rates and trouble ahead for the markets](https://wishingwealthblog.com/2021/10/blog-post-day-13-of-qqq-short-term-down-trend-tlt-in-steep-decline-indicating-higher-interest-rates-and-trouble-ahead-for-the-markets/) - [Blog post: Day 12 of $QQQ short term down-trend; $DDOG holding up well in this weak market](https://wishingwealthblog.com/2021/10/blog-post-day-12-of-qqq-short-term-down-trend-ddog-holding-up-well-in-this-weak-market/) - Note the green and black dots indicating bounces from an oversold position. The stock has held up well since its GLB and has maintained a daily RWB pattern. Nice monthly chart. - [Blog post: Day 11 of $QQQ short term down-trend; $QQQ, $SPY, $DIA in daily BWR down-trends](https://wishingwealthblog.com/2021/10/blog-post-day-11-of-qqq-short-term-down-trend-qqq-spy-dia-in-daily-bwr-down-trends/) - [Blog post: Day 10 of $QQQ short term down-trend; $QQQ siting on critical 30 week average; ARK ETFs, $ARKK and $ARKG entering Stage IV declines](https://wishingwealthblog.com/2021/10/blog-post-day-10-of-qqq-short-term-down-trend-qqq-siting-on-critical-30-week-average-ark-etfs-arkk-and-arkg-entering-stage-iv-declines/) - Will 30 week average (red solid line) hold? If not, QQQ could be forming major top. The two aRK ETFs look quite weak and toppy. - [Blog post: Day 9 of $QQQ short term down-trend--$QQQ very over-sold but I remain in cash; GMI=2](https://wishingwealthblog.com/2021/10/blog-post-day-9-of-qqq-short-term-down-trend-qqq-very-over-sold-but-i-remain-in-cash-gmi2/) - Things could bounce today from a very over-sold QQQ. QQQ bounced its bottom daily 10.4 Bollinger Band and had a very oversold 10.4 stochastic on Friday. Both indicators are where short term support usually comes in for QQQ and other major indexes. If it does not, look out below.... - [Blog post: Day 8 of $QQQ short term down-trend; $AAPL to enter BWR daily down-trend, along with $AMZN after failed GLBs?](https://wishingwealthblog.com/2021/09/blog-post-day-8-of-qqq-short-term-down-trend-aapl-to-enter-bwr-daily-down-trend-along-with-amzn-after-failed-glbs/) - Both have failed GLBs. - [Blog post: GMI falls to 1; Dollar rising ($UUP) with interest rates and gold ($GLD) declines](https://wishingwealthblog.com/2021/09/blog-post-gmi-falls-to-1-dollar-rising-uup-with-interest-rates-and-gold-gld-declines/) - [Blog post: Day 6 of $QQQ short term down-trend; $DIA and $IWM below critical 30 week averages; cash is king](https://wishingwealthblog.com/2021/09/blog-post-day-6-of-qqq-short-term-down-trend-dia-and-iwm-below-critical-30-week-averages-cash-is-king/) - Weekly charts--30 week average is red solid line. Time to be on the sidelines in cash in my trading accounts. If they turn down, I exit even my pension accounts. B - [Blog post: Day 5 of $QQQ short term down-trend, GMI remains RED, Daily RWB up-trend gone--in cash](https://wishingwealthblog.com/2021/09/blog-post-day-5-of-qqq-short-term-down-trend-gmi-remains-red-daily-rwb-up-trend-gone-in-cash/) - [Blog post; Day 4 of $QQQ short term down-trend; GMI could turn Green on Monday; $PAG follows through on cup and handle break-out](https://wishingwealthblog.com/2021/09/blog-post-day-4-of-qqq-short-term-down-trend-gmi-could-turn-green-on-monday-pag-follows-through-on-cup-and-handle-break-out/) - $PAG had a GLB and a cup and handle break-out. - [Blog post: Day 3 of $QQQ short term down-trend; $TLT breaks down again!](https://wishingwealthblog.com/2021/09/blog-post-day-3-of-qqq-short-term-down-trend-tlt-breaks-down-again/) - [Blog post: Day 2 of $QQQ short term down-trend; GMI turns RED; $TLT breaks out again](https://wishingwealthblog.com/2021/09/blog-post-day-2-of-qqq-short-term-down-trend-gmi-turns-red-tlt-breaks-out-again/) - With TLT rising, interest rates are headed lower. - [Blog post: Day 1 of new $QQQ short term down-trend; GMI falls to 2 could flash Red on Thursday; $AAPL has GLB failure](https://wishingwealthblog.com/2021/09/blog-post-day-1-of-new-qqq-short-term-down-trend-gmi-falls-to-2-could-flash-red-on-thursday-aapl-has-glb-failure/) - AAPL closes back below its green line--a significant sign of weakness. This is not the time to be trading long. I am very concerned about how events will turn out through October. I am 100% cash in my trading accounts. - [Blog post: Tomorrow will likely be end of $QQQ short term up-trend; Daily RWB charts show up-trend patterns gone for $QQQ, $SPY, $DIA](https://wishingwealthblog.com/2021/09/blog-post-tomorrow-will-likely-be-end-of-qqq-short-term-up-trend-daily-rwb-charts-show-up-trend-patterns-gone-for-qqq-spy-dia/) - Waiting for index ETFs to close back above all 12 averages. Close is represented by the dotted line. - [Blog post: Markets looking weak; IBD changed outlook to up-trend under pressure, GMI falls to 3 and could reach 2 Monday; $QQQ short term up-trend could end Monday; $TLT break-out fails](https://wishingwealthblog.com/2021/09/blog-post-markets-looking-weak-ibd-changed-outlook-to-up-trend-under-pressure-gmi-falls-to-3-and-could-reach-2-monday-qqq-short-term-up-trend-could-end-monday-tlt-break-out-fails/) - I am surprised that with so many market pundits opining about "weak September" the market seems to be complying. But weak it is, for now. I am looking for the put/call ratio to rise above 1 for a meaningful bounce to occur. It closed at .71 on Friday. So many stocks have failed break-outs, and - [Blog post: Day 18 of $QQQ short term up-trend; Innovator IBD 50 Fund ETF moving up, retakes green line](https://wishingwealthblog.com/2021/09/blog-post-day-18-of-qqq-short-term-up-trend-innovator-ibd-50-fund-etf-moving-up-retakes-green-line/) - [Blog post: Day 17 of $QQQ short term up-trend; $QQQ and $SPY bounce after black dot signals](https://wishingwealthblog.com/2021/09/blog-post-day-17-of-qqq-short-term-up-trend-qqq-and-spy-bounce-after-black-dot-signals/) - So many black dot signals on stocks on Wednesday. Took a few positions. If they fail, I exit quickly. - [Blog post: GMI declines to 3 (of 6); DAILY RWB up-trend over for $DIA; $TLT broke out](https://wishingwealthblog.com/2021/09/blog-post-gmi-declines-to-3-of-6-daily-rwb-up-trend-over-for-dia/) - [Blog post: Day 15 of $QQQ short term up-trend; 20 year treasuries,$TLT, up against descending trend line](https://wishingwealthblog.com/2021/09/blog-post-day-15-of-qqq-short-term-up-trend-20-year-treasuriestlt-up-against-descending-trend-line/) - Which way TLT breaks will tell us trend of longer term interest rates. - [Blog post: Day 14 of $QQQ short term up-trend but GMI=4, huge event risk, end of quarter window dressing--cash is king; Will $AAPL hold green line?](https://wishingwealthblog.com/2021/09/blog-post-day-14-of-qqq-short-term-up-trend-but-gmi4-huge-event-risk-end-of-quarter-window-dressing-cash-is-king-will-aapl-hold-green-line/) - I am very cautious with the GMI falling to 4 (of 6) and with the current huge event risk: September/October seasonal weakness, a likely fight over raising the debt limit and possible Fed tapering. One positive element for me is possible mutual fund window dressing the last week of September (end of 3rd quarter) when - [Blog post: Day 13 of $QQQ short term up-trend; While I missed it, $NFLX had a GLB last week--now extended above 4 week avg.](https://wishingwealthblog.com/2021/09/blog-post-day-13-of-qqq-short-term-up-trend-while-i-missed-it-nflx-had-a-glb-last-week-now-extended-above-4-week-avg/) - Weekly chart. Be careful when any stock floats above rising 4 wk avg (red dotted line). I wait for it to return to that average to buy. - [Blog post: Day 11 of $QQQ shor term up-trend; $DKNG approaching green line tops](https://wishingwealthblog.com/2021/09/blog-post-day-11-of-qqq-shor-term-up-trend-dkng-approaching-green-line-tops/) - Weekly chart shows DKNG trying to retake prior tops. Worth monitoring to see if it can close above 64.19 and then 74.38. - [Blog post: Day 10 (U-10) of $QQQ short term up-trend; but $QQQ has been in a longer term weekly RWB up-trend since June, 2020; GMI=6 (of 6)](https://wishingwealthblog.com/2021/09/blog-post-day-10-u-10-of-qqq-short-term-up-trend-but-qqq-has-been-in-a-longer-term-weekly-rwb-up-trend-since-june-2020-gmi6-of-6/) - [Blog post: Day 9 of $QQQ short term up-trend; $GNRC continues to rise with hurricane season](https://wishingwealthblog.com/2021/09/blog-post-day-9-of-qqq-short-term-up-trend-gnrc-continues-to-rise-with-hurricane-season/) - Note re-test of GLB and black dot (OSB) signal and bounce up off of lower 15.2 daily Bollinger Band. Why is GNRC rising? The answer is blowing in the wind..... (shocking!) - [Blog post; Day 8 of $QQQ short term up-trend; $AAPL continues to rise after holding green line](https://wishingwealthblog.com/2021/09/blog-post-day-8-of-qqq-short-term-up-trend-aapl-continues-to-rise-after-holding-green-line/) - [Blog post: Day 7 of $QQQ short term up-trend; $NAVI re-tests GLB](https://wishingwealthblog.com/2021/09/blog-post-day-7-of-qqq-short-term-up-trend-navi-re-tests-glb/) - [Blog post: Day 6 of $QQQ short term up-trend; Only 36% of US stocks rose compared to 70% of NASDAQ 100 stocks, 30% of which are extended; $AAPL finally breaks out](https://wishingwealthblog.com/2021/08/blog-post-day-6-of-qqq-short-term-up-trend-only-36-of-us-stocks-rose-compared-to-70-of-nasdaq-100-stocks-30-of-which-are-extended-aapl-finally-breaks-out/) - AAPL finally moves out of its trading range, after holding above its green line. - [Blog post: Day 5 of $QQQ short term up-trend; GLB--$NAVI; beware September](https://wishingwealthblog.com/2021/08/blog-post-day-5-of-qqq-short-term-up-trend-glb-navi-beware-september/) - Daily chart shows that NAVI broke above its green line top on above average volume on Friday. It is 2.6 times its price a year ago. Monthly chart shows that NAVI peaked and formed a green line top in December, 2014. Weekly chart shows that NAVI has closed above its 10 week average (blue dotted - [Blog post: Day 4 of $QQQ short term up-trend; Hurricane season can move $GNRC higher as people deal with loss of power; see daily, RWB and weekly charts.](https://wishingwealthblog.com/2021/08/blog-post-day-4-of-qqq-short-term-up-trend-hurricane-season-can-move-gnrc-higher-as-people-deal-with-loss-of-power-see-daily-rwb-and-weekly-charts/) - Note over sold bounces (OSB) denoted by green and black dots. Thanks to my stock buddy, Judy, for telling me about GNRC years ago. Retakes 10 week average. - [Blog post: Day 3 of $QQQ short term up-trend; Bonds, $TLT, are weakening suggesting higher interest rates](https://wishingwealthblog.com/2021/08/blog-post-day-3-of-qqq-short-term-up-trend-bonds-tlt-are-weakening-suggesting-higher-interest-rates/) - 21 day exponential average (blue solid line) crossed back below 30 day simple average (red line). Recent up-trend appears over. Higher rates slay the bull. - [Blog Post: Day 2 of $QQQ short term up-trend; $NOW holds recent GLB](https://wishingwealthblog.com/2021/08/blog-post-day-2-of-qqq-short-term-up-trend-now-holds-recent-glb/) - [Blog post: Day 1 of new $QQQ short term up-trend, buying $TQQQ which AGAIN beat most stocks during the prior short term up-trend; Look at the data...](https://wishingwealthblog.com/2021/08/blog-post-day-1-of-new-qqq-short-term-up-trend-buying-tqqq-which-again-beat-most-stocks-during-the-prior-short-term-up-trend-look-at-the-data/) - During the recent 59 day up-trend (5/26-8/18), QQQ rose 8.4%, SPY rose 4.8% and DIA rose 2% but TQQQ rose 26.3%, beating 90% of the Nasdaq100 stocks and 95% of S&P500 stocks. That is why when a new QQQ short term up-trend begins I slowly accumulate TQQQ. By the way, TNA declined -13.3%. - [Blog post: Stocks rally and 2 day old $QQQ short term down-trend may end Monday; $NKE--an example of how I use my latest oversold bounce (OSB) scan to find promising stocks; $QQQ retakes all shorter daily RWB averages](https://wishingwealthblog.com/2021/08/blog-post-stocks-rally-and-2-day-old-qqq-short-term-down-trend-may-end-monday-nke-an-example-of-how-i-use-my-latest-oversold-bounce-osb-scan-to-find-promising-stocks-qqq-retakes-all-shorter-d/) - The key to prospering in the market is to have developed a set-up, defined by objective conditions which leads one to expect that a stock will rise almost immediately. The set-up must also suggests a price at which to set a stop loss to sell out with a small loss if the set-up fails. If - [Blog post; First day of new $QQQ short term down-trend; However, about 40% end within 5 days. Put/call ratio=.80, highest since .84 on 7/19 at bottom of last mini decline (see chart). Time to wait on sidelines.](https://wishingwealthblog.com/2021/08/blog-post-first-day-of-new-qqq-short-term-down-trend-however-about-40-end-within-5-days-put-call-ratio-80-highest-since-84-on-7-19-at-bottom-of-last-mini-decline-see-chart-time-to-wait-on/) - Note mini-decline in mid July. When/If daily close (dotted line) climbs above the 6 shorter red averages it will be time for me to go long again. - [Blog post: Perfect Storm: End of $QQQ short term up-trend+rising pandemic+taper talk+seasonal weakness--holding cash +$SQQQ](https://wishingwealthblog.com/2021/08/blog-post-perfect-storm-end-of-qqq-short-term-up-trendrising-pandemictaper-talkseasonal-weakness-holding-cash-sqqq/) - When highly vaccinated Israel is dealing with a rash of new cases it is very ominous for the U.S. which has lower rates of vaccinated people. Bonds are rising suggesting economic weakness even as the Fed is talking about tapering bond buying. The QQQ short term up-trend is likely to end today. And we are - [Blog post; Day 58 of $QQQ short term up-trend, but it may end this week; more new lows than highs for second day in a row; but daily RWB up-trend intact](https://wishingwealthblog.com/2021/08/blog-post-day-58-of-qqq-short-term-up-trend-but-it-may-end-this-week-more-new-lows-than-highs-for-second-day-in-a-row-but-daily-rwb-up-trend-intact/) - There were 234 new lows and 82 new highs among US stocks on Tuesday. QQQ is right on support but daily RWB up-trend is still evident.. - [Blog post: Day 57 of $QQQ short term up-trend, $AAPL breaks out to ATH after holding green line; $IQV performs after OSB signal, here are 5 more](https://wishingwealthblog.com/2021/08/blog-post-day-57-of-qqq-short-term-up-trend-aapl-breaks-out-to-ath-after-holding-green-line/) - In yesterday's post I mentioned IQV as having come up in my scan for oversold bounces. See what it did the next day.... Tonight the following stocks came up in that scan: EL, TGT, AVLR, ABG, TECH. Check them out. - [Blog post: Day 56 of $QQQ short term up-trend; List of 4 stocks from my scan of recently oversold growth stocks now closing above their 21 day exponential moving average--$AVGO, $NOW, $ZTS, $IQV](https://wishingwealthblog.com/2021/08/blog-post-day-56-of-qqq-short-term-up-trend-list-of-4-stocks-from-my-scan-of-recently-oversold-growth-stocks-now-closing-above-their-21-day-exponential-moving-average-avgo-now-zts-iqv/) - 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 - [Blog post: Day 55 of $QQQ short term up-trend; $AAPL to break out after VCP?](https://wishingwealthblog.com/2021/08/blog-post-day-55-of-qqq-short-term-up-trend-aapl-to-break-out-after-vcp/) - [Blog post: Why buying stocks over $200 works better--revisited, examples $BNTX and $GS](https://wishingwealthblog.com/2021/08/blog-post-why-buying-stocks-over-200-works-better-revisited-examples-bntx-and-gs/) - I was planning to write a post about the virtue of trading expensive stocks and then I discovered that I had done so in 2018. My 2018 post explained why I liked to buy stock stocks trading over $100. I noted that Jesse Livermore had said he was interested in number of points gained, not - [Blog post: Day 53 of $QQQ short term up-trend; With hurricane season upon us, monitoring $GNRC](https://wishingwealthblog.com/2021/08/blog-post-day-53-of-qqq-short-term-up-trend-with-hurricane-season-upon-us-monitoring-gnrc/) - [Blog post: 52nd day of $QQQ short term up-trend; I tweeted $IBB retakes green line; $GLD extends Stage IV down-trend](https://wishingwealthblog.com/2021/08/blog-post-52nd-day-of-qqq-short-term-up-trend-i-tweeted-ibb-retakes-green-line-gld-extends-stage-iv-down-trend/) - Follow my tweets @wishingwealth--- I sometimes tweet GLBs like this during the trading day. This weekly chart shows a major Weinstein Stage IV down-trend in GLD. Note the failed GLB a year ago. - [Blog post: 51st day of $QQQ short term up-trend; $GS has weekly green bar (WGB); GMI = 6 (of 6)](https://wishingwealthblog.com/2021/08/blog-post-51st-day-of-qqq-short-term-up-trend-gs-has-weekly-green-bar-wgb-gmi-6-of-6/) - GS had a strong week and closed near its weekly high and at a n ATH. WGB occurs when it retakes its 4 wk average and 4wk>10wk>30wk.. - [Blog post: Day 50 of $QQQ short term up-trend; $IBB had a GLB, so did $DDOG, $ZI and $SITM, charts provided](https://wishingwealthblog.com/2021/08/blog-post-day-50-of-qqq-short-term-up-trend-ibb-had-a-glb-so-did-ddog-zi-and-sitm-charts-provided/) - With the new bio-engineered COVIC vaccines it is to be expected that biotech stocks would be strong. Hence the GLB in the biotech ETF, IBB. The green line peak occurred last February. The volume was only about average on the break-out. Let's see if it holds the green line on Friday. The following 3 stocks - [Blog post: Day 49 of $QQQ short term up-trend; $BNTX signals climax top?](https://wishingwealthblog.com/2021/08/blog-post-day-49-of-qqq-short-term-up-trend-bntx-signals-climax-top/) - When a stock that has been on a tear has a large gain on the highest volume in many days it can be a sign of a top. Note that it is extended outside the upper 15.2 daily Bollinger band. The "N" shows when BNTX triggered my oversold bounce signal (OSB) after a VCP and - [Blog post: 48th day of $QQQ short term up-trend; Should we be surprised that $MRNA has been in a daily RWB up-trend since last May?](https://wishingwealthblog.com/2021/08/blog-post-48th-day-of-qqq-short-term-up-trend-should-we-be-surprised-that-mrna-has-been-in-a-daily-rwb-up-trend-since-last-may/) - How could we have missed buying this stock when so many of us have received Moderna's vaccine? Buy what everyone around us is getting.... - [Blog post: 47th day of $QQQ short term up-trend; $SQ approaching green line, waiting for GLB](https://wishingwealthblog.com/2021/08/blog-post-47th-day-of-qqq-short-term-up-trend-sq-approaching-green-line-waiting-for-glb/) - SQ should stall near green line (former peak) as it tries to get through resistance. If it does eventually burst through on above average daily volume, I would consider buying, but sell f it closes back below green line. - [Blog post: 46th day of $QQQ short term up-trend; GLB: $DXCM, $MITK, $PKI, $AAPL on the precipice; Government shut down in October?](https://wishingwealthblog.com/2021/08/blog-post-46th-day-of-qqq-short-term-up-trend-glb-dxcm-mitk-pki-aapl-on-the-precipice-government-shut-down-in-october/) - 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 - [Blog post: 45th day of $QQQ short term up-trend; $AMD follows through post GLB; preparing for market weakness as we approach post-earnings lull, US debt limit issues, and weakest season for market](https://wishingwealthblog.com/2021/07/blog-post-45th-day-of-qqq-short-term-up-trend-amd-follows-through-post-glb-preparing-for-market-weakness-as-we-approach-post-earnings-lull-us-debt-limit-issues-and-weakest-season-for-market/) - Strong GLB on above average volume (not shown). - [Blog post: 44th day of $QQQ short term up-trend; Hourly chart shows high volume rise in $GLD at end of day Wednesday](https://wishingwealthblog.com/2021/07/blog-post-44th-day-of-qqq-short-term-up-trend-hourly-chart-shows-high-volume-rise-in-gld-at-end-of-day-wednesday/) - It pays to monitor hourly charts near end of day. Note many bounces off of lower 2.15 Bollinger band. - [Blog post: Day 43 of $QQQ short term up-trend, $POOL is the only stock to come up on my oversold bounce scan of 644 growth stocks](https://wishingwealthblog.com/2021/07/blog-post-day-43-of-qqq-short-term-up-trend-pool-is-the-only-stock-to-come-up-on-my-oversold-bounce-scan-of-644-growth-stocks/) - When the markets decline, it is easier to see potential leaders. Let's see if the strength in POOL continues. Note the many black dot signals and its recent bounce off of the lower 2.15 daily Bollinger band, shown by green bars. I explained these signals during my recent webinar archived on the TraderLion site. - [Blog post: Day 42 of $QQQ short term up-trend; Fed meets today and beware raising debt limit antics to come; treasury bonds peaked?](https://wishingwealthblog.com/2021/07/blog-post-day-42-of-qqq-short-term-up-trend-fed-meets-today-and-beware-raising-debt-limit-antics-to-come-treasury-bonds-peaked/) - In my experience, the end of the month is strong, followed by weakness in the beginning of the next month. Put this together with the end of the debt limit agreement that could lead to a government shut-down, and we have a prescription for volatility. Treasury bonds (TLT) may have peaked. - [Blog post: The power of the GLB: $XPEL, $MSFT, $AAPL, $AMZN, $NET, $COST, $QQQ........](https://wishingwealthblog.com/2021/07/blog-post-the-power-of-the-glb-xpel-msft-aapl-amzn-net-cost-qqq/) - Most people are afraid to buy stocks breaking out to an all-time high (ATH) but still say they want to jump on a rocket stock heading towards the moon! Go figure. Buying a GLB (green line break-out) can lead to huge gains. I draw a green line on a monthly chart at the ATH bar - [Blog post: Day 40 of $QQQ short term up-trend; $CRWD retakes green line](https://wishingwealthblog.com/2021/07/blog-post-day-40-of-qqq-short-term-up-trend-crwd-retakes-green-line/) - [39th day of $QQQ short term up-trend; $LEGN moves up after GLB](https://wishingwealthblog.com/2021/07/39th-day-of-qqq-short-term-up-trend-legn-moves-up-after-glb/) - [Blog post; 36th day of $QQQ short term up-trend but small-cap stocks ($IWM) in daily BWR decline](https://wishingwealthblog.com/2021/07/blog-post-36th-day-of-qqq-short-term-up-trend-but-small-cap-stocks-iwm-in-daily-bwr-decline/) - [Blog post: GMI falls to 3; $QQQ reaches oversold levels--will coming bounce hold? Put/Call ratio = .84, not high enough for most turns; T2108 dives](https://wishingwealthblog.com/2021/07/blog-post-gmi-falls-to-3-qqq-reaches-oversold-levels-will-coming-bounce-hold-put-call-ratio-84-not-high-enough-for-most-turns-t2108-dives/) - I have never? seen the T2108 decline so fast. Only 21% of NYSE stocks closed above their 40 day simple moving averages. Major bottoms occur when T2108 is - [Blog post: 36th day of $QQQ short term up-trend and GMI=5 (of 6) and Green; I went to cash in my trading account last week; One reason, daily MACD histogram turned red, see chart](https://wishingwealthblog.com/2021/07/blog-post-36th-day-of-qqq-short-term-up-trend-and-gmi5-of-6-and-green-i-went-to-cash-in-my-trading-account-last-week-one-reason-daily-macd-histogram-turned-red-see-chart/) - In the past, I exited mutual funds in my university pension accounts only after the longer term trend had turned down. That has not happened yet. In my more tradable IRA accounts I exit the market more frequently when some weakness becomes apparent to me. I do not want to give back all of my - [Blog post: 35th day of $QQQ short term up-trend but many stocks have failed break-outs, getting more defensive, GMI=4](https://wishingwealthblog.com/2021/07/blog-post-35th-day-of-qqq-short-term-up-trend-but-many-stocks-have-failed-break-outs-getting-more-defensive-gmi4/) - I went to cash in my trading account yesterday. I want to see if QQQ holds today. We are approaching a traditionally weak period in the market, especially after 2nd quarter earnings are out. GMI has declined to 4 (of 6). - [Blog post: 34th day of $QQQ short term up-trend; Small cap stocks in trouble? Weekly chart of $IWM shows Stage IV top could be developing; other warning signs I see](https://wishingwealthblog.com/2021/07/blog-post-34th-day-of-qqq-short-term-up-trend-small-cap-stocks-in-trouble-weekly-chart-of-iwm-shows-stage-iv-top-could-be-developing-other-warning-signs-i-see/) - $IWM is now below its critical 30 week average--Stage IV on the horizon? Green line top is now in place as advance has stalled. I am also a little concerned by the fact that T2108 is only at 38% when the indexes are setting records. This means that only 38% of the NYSE stocks are - [Blog post: 33rd day of $QQQ short term up-trend; $QQQ remains in a daily RWB up-trend; so does $AAPL](https://wishingwealthblog.com/2021/07/blog-post-33rd-day-of-qqq-short-term-up-trend-qqq-remains-in-a-daily-rwb-up-trend-so-does-aapl/) - RWB up-trend means that all 6 shorter term averages (red) are rising above 6 longer term averages (blue) with a white space between them. The black dotted line is the daily close. The first sign of weakness occurs when the dotted line goes below the red lines, leading them lower. This is a modified GMMA - [Blog post: 32nd day of $QQQ short term up-trend; Key to success in market is to have an objective, defined set-up that implies an immediate move up, then if it fails to move rapidly as predicted exit quickly with a small loss; I teach my students several set-ups that I like; one of them is the black dot signal, defined below](https://wishingwealthblog.com/2021/07/blog-post-32nd-day-of-qqq-short-term-up-trend-key-to-success-in-market-is-to-have-an-objective-defined-set-up-that-implies-an-immediate-move-up-then-if-it-fails-to-move-rapidly-as-predicted-exit/) - I have TC2000 (see TC2000 tab on blog) draw a black dot when a stock in an up-trend bounces up from oversold. Oversold is defined as having a daily 10.1 stochastic value of 25 or less in any of the past 3 days. I have discovered that almost every significant rise in a stock begins - [Blog post: $AAPL and $AMZN and $FB have GLBs, augurs well for $QQQ up-trend, now in 31st day; look at $GOOGL post GLB; GMI remains Green at 6 (of 6)](https://wishingwealthblog.com/2021/07/blog-post-aapl-and-amzn-and-fb-have-glbs-augurs-well-for-qqq-up-trend-now-in-31st-day-look-at-googl-post-glb-gmi-remains-green-at-6-of-6/) - These weekly charts show that several of the FAANG stocks have recently had GLBs to all-time highs. Since these stocks are heavily weighted in the Nasdaq 100 index (QQQ) it is likely that this ETF will continue to advance. However, if these stocks should close back below their green lines it would signal major weakness. - [Blog post: 30th day of $QQQ short term up-trend, GMI falls to 4 (of 6), more new lows than highs but weekly chart of QQQ shows strength; I always check weekly chart before selling](https://wishingwealthblog.com/2021/07/blog-post-30th-day-of-qqq-short-term-up-trend-gmi-falls-to-4-of-6-more-new-lows-than-highs-but-weekly-chart-of-qqq-shows-strength-i-always-check-weekly-chart-before-selling/) - I always check the weekly chart before selling anything. This chart shows that the up-trend in QQQ is intact. A weekly close below the 4 wk average (red dotted line) would be first sign of weakening of an up-trend. - [Blog post; 29th day of $QQQ short term up-trend; Futures indicate decline at the open today](https://wishingwealthblog.com/2021/07/blog-post-29th-day-of-qqq-short-term-up-trend-futures-indicate-decline-at-the-open-today/) - [Blog post: 28th day of $QQQ short term up-trend; $CRWD successfully re-tests GLB](https://wishingwealthblog.com/2021/07/blog-post-28th-day-of-qqq-short-term-up-trend-crwd-successfully-re-tests-glb/) - [Blog post: GMI is at 6 (of 6) and up-trends remain intact; the $QQQ short term trend count is U-27; my profitable strategy of holding $TQQQ during a $QQQ short term up-trend;](https://wishingwealthblog.com/2021/07/blog-post-gmi-is-at-6-of-6-and-up-trends-remain-intact-the-qqq-short-term-trend-count-is-u-27-my-profitable-strategy-of-holding-tqqq-during-a-qqq-short-term-up-trend/) - In the GMI table below I provide my QQQ short term trend count. It is currently U-27, indicating the 27th day of the current up-trend which began on 5/26. I try to post in my daily blog the current QQQ short term trend count. I have found that a profitable strategy for me is to - [Blog post: 26th day of $QQQ short term up-trend; $QQQ remains in daily RWB up-trend](https://wishingwealthblog.com/2021/07/blog-post-26th-day-of-qqq-short-term-up-trend-qqq-remains-in-daily-rwb-up-trend/) - [CORRECTION: SMT meeting is Tonight, not Friday](https://wishingwealthblog.com/2021/07/correction-smt-meeting-is-tonight-not-friday/) - Register for free mtg here. - [Blog post: 25th day of $QQQ short term up-trend; Scan finds that $OMI has OSB; My SMT presentation this Friday evening](https://wishingwealthblog.com/2021/07/blog-post-25th-day-of-qqq-short-term-up-trend-scan-finds-that-omi-has-osb-my-smt-presentation-this-friday-evening/) - OMI came up on my scan for stocks recently at an ATH that have bounced up from over-sold (OSB). OMI must hold Wednesday's low of 40.69. Note green and black dot signals. OMI had a large volume up move during the last hour on Wednesday. I will discuss this scan during my presentation at the - [Blog post: 24th day of $QQQ short term up-trend; $CRWD hugging green line after GLB](https://wishingwealthblog.com/2021/06/blog-post-24th-day-of-qqq-short-term-up-trend-crwd-hugging-green-line-after-glb/) - [Blog post: 23rd day of $QQQ short term up-trend; End of window dressing could bring weakness; $QQQ remains in a daily RWB up-trend](https://wishingwealthblog.com/2021/06/blog-post-23rd-day-of-qqq-short-term-up-trend-end-of-window-dressing-could-bring-weakness-qqq-remains-in-a-daily-rwb-up-trend/) - With the end of the end of quarter mutual fund window dressing, I suspect we might see some weakness until 2nd quarter earnings are released. But QQQ remains in a strong daily RWB pattern. - [Blog post: GLB: $MTDR, $CRWD, $GNRC; GMI 5 (of 6) and Green](https://wishingwealthblog.com/2021/06/blog-post-glb-mtdr-crwd-gnrc-gmi-5-of-6-and-green/) - Weekly chart shows $MTDR had GLB and a WGB (weekly green bar). - [21st day of $QQQ short term up-trend; End of quarter Window Dressing time; $TQQQ prevails again](https://wishingwealthblog.com/2021/06/21st-day-of-qqq-short-term-up-trend-end-of-quarter-window-dressing-time-tqqq-prevails-again/) - With the end of the 2nd quarter, mutual funds are dressing up their quarterly reports by buying the strongest stocks. Hence the rally we have seen in the tech stocks as evidenced by QQQ. Since the beginning of the QQQ short term up-trend on 5/26, QQQ has advanced +4.7% while TQQQ has advanced +14.7%. I - [Blog post:$DDS moves up after re-test of GLB; $MTDR has GLB to ATH on above average volume](https://wishingwealthblog.com/2021/06/blog-postdds-moves-up-after-re-test-of-glb-mtdr-has-glb-to-ath-on-above-average-volume/) - Note black and green dot signals. - [Blog post: 19th day of $QQQ short term up-trend; GLB: $CRWD](https://wishingwealthblog.com/2021/06/blog-post-19th-day-of-qqq-short-term-up-trend-glb-crwd/) - Note above average daily volume on GLB (green line break-out) to ATH. Note green dot signal on day of prior cup and handle break-out. Note black dot signal on day of over-sold bounce (OSB). I tweeted out this GLB intraday on Monday, follow me @wishingwealth - [Blog post: 18th day of $QQQ short term up-trend; $AOUT surging after re-test of GLB, and green and black dots](https://wishingwealthblog.com/2021/06/blog-post-18th-day-of-qqq-short-term-up-trend-aout-surging-after-re-test-of-glb-and-green-and-black-dots/) - [GMI declines to 3 (of 6) but still 17th day of $QQQ short term up-trend; SPY closes below 10 week average and daily RWB gone; $GNRC has GLB, $ASAN had GLB 2 wks ago](https://wishingwealthblog.com/2021/06/gmi-declines-to-3-of-6-but-still-17th-day-of-qqq-short-term-up-trend-spy-closes-below-10-week-average-and-daily-rwb-gone-gnrc-has-glb-asan-had-glb-2-wks-ago/) - QQQ is till in a daily RWB up-trend. But SPY's daily RWB is about over. GNRC had a GLB (green line break-out to ATH) last week on above average volume, see weekly chart. It can move up with hurricane season. ASAN had a GLB 2 weeks ago. ## Pages - [Contact](https://wishingwealthblog.com/contact/) - Contact Dr. Wish using the form below: - [Book List](https://wishingwealthblog.com/book-list/) - [Privacy Statement](https://wishingwealthblog.com/privacy-statement/) - Last Updated: 12/14/2023 1. Introduction WishingWealthBlog.com is committed to protecting the privacy of our visitors. This Privacy Policy explains how we collect, use, and safeguard your personal information when you visit our blog. 2. Information We Collect We collect email addresses from users who wish to receive notifications of new posts published on our site. - [Glossary](https://wishingwealthblog.com/glossary/) - Green Line Breakout (GLB) I draw a green line on a monthly stock chart at a bar at an all-time high that has not been penetrated (or closed above) for three straight months (or 3 bars). It basically is a strong stock breaking out to an all-time high (ATH) after at least a 3-month consolidation. - [About](https://wishingwealthblog.com/about/) - My name is Eric Wish. Over the past 40 years I have learned how to successfully trade stocks. I have managed to avoid every bear market since 94. I multiplied my IRA 13x and got out of the market in 2000. My portfolio gained 50% in 2003. I came in 5th in the Barron's Stock - [Recommended Reading](https://wishingwealthblog.com/recommended-reading/) - Here is our recommended reading list. These are books hand-selected by Dr. Wish to be relevant to learning more about the stock market and how to trade effectively. Many of them are required to be read by students who are currently enrolled in Dr. Wish's University course. By clicking on links from this page and - [Disclaimer](https://wishingwealthblog.com/disclaimer/) - To my visitors: I am only one trader, not a guru, and not a financial advisor. 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