Wishing Wealth Blog

This up-turn looks like it has legs. I am accumulating some QLD, given that the GMI gave a buy signal on December 23.   AAPL is coming back and helping the QQQ to rise.   ASPS faked a high volume down-side break, as it recovered strongly on Thursday.   If it can break above its top Bollinger Band and recent peak of 50.82, it may have a ways to go. I added to ASPS on Thursday.   I also own NGLS, a natural gas stock which is showing signs of strength and is near its all-time high. See the weekly chart below.

The up-trend continues.   Four stocks came up in my new high and good fundamentals scan: ISRG, ARG, WPZ, DXPE.

Not all stocks did well on Wednesday. After about 10 weeks of a rise, ASPS finally weakened.   Note the high volume break below the narrow Bollinger Band consolidation. Click on daily chart to enlarge. The stock has now closed below its critical 30 day average (red line) for the first time since October.

I am more confident of this new QQQ short term up-trend now that it has reached the 5th day.   There were 262 new 52 week highs on Tuesday.   The GMI flashed a buy signal on December 23 and remains in place.   Only 1 stock passed my new high with great fundamentals scan, CMG.   However, CMG reversed   down on Tuesday after meeting resistance at its top Bollinger band.   Three stocks came up on my Rocket Scan that were also on my IBD50/IBD NewAmerica watchlists from the past year or so:   LQDT,PSMT,JAZZ.