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New QQQ short term down-trend; IBD says “market in correction”

Friday, November 18, 2011Thursday, November 17, 2011 @ 7:00 am by Dr. Wish
GMI1/6
GMI-21/9
T210858%

The GMI and GMI2 each skidded down to 1.   I am going to cash in my trading accounts.   My longer term money in my university pension remains in mutual funds–for now.

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QQQ short term up-trend in jeopardy

Thursday, November 17, 2011Wednesday, November 16, 2011 @ 7:00 am by Dr. Wish
GMI5/6
GMI-23/9
T210871%

Another down or flat day in the QQQ would begin a new short term down-trend; reducing exposure and getting defensive.

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26th day of QQQ short term up-trend; CVLT breaks out

Wednesday, November 16, 2011Tuesday, November 15, 2011 @ 7:00 am by Dr. Wish
GMI4/6
GMI-24/9
T210877%

14 stocks at new highs and with good earnings:

HITK,ASPS,MANH,PETM,DCI,NSR,CVLT,QCOR,MA,ISRG,FAST,LANC,CASY,GR

Check out this monthly chart of CVLT and note that it is breaking out from a four month consolidation.

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Current GMI Signal

GREEN

since close on OCT 6, 2026

Successful GLBTracker

Selected stocks that have had a successful recent Green Line Breakout (GLB). One can really profit by buying stocks breaking out to all-time highs after a consolidation of 3 months or more, my GLB Setup.

Green Line Breakout stocks
Sym.DateGLB $Now $Chg.
ENLT6/18/25$20.44$70.03242.61%
SFM1/29/24$49.45$65.8233.10%
CRS4/23/24$79.66$377.91374.40%
AGX9/6/24$76.70$351.96358.88%
BTSG9/9/25$25.57$60.67137.27%
APP9/17/24$116.09$268.32131.13%
EAT10/1/24$78.33$203.49159.79%
PLTR11/5/24$44.91$186.91316.19%
INSW3/16/26$65.94$111.7969.53%
BE8/22/25$44.95$226.20403.23%
CLS5/1/25$87.00$304.36249.84%
RGC5/1/25$1.55$9.27498.06%
CCJ6/9/25$62.55$81.5030.30%
RHLD8/12/25$54.05$114.91112.60%
GEV5/20/25$447.50$931.68108.20%
CLS6/25/25$144.27$304.36110.97%
MIRM8/7/2025$54.23$80.2547.98%
CCJ6/9/25$62.55$81.5030.30%
WDC9/4/25$86.66$341.64294.23%
SNDK9/4/25$58.36$1,335.222187.90%
STX6/3/2025$117.67$657.82459.04%
TTMI6/3/25$30.41$95.46213.91%
MU9/29/25$157.54$896.30468.93%
INBX7/8/25$18.95$88.38366.39%
SPHR9/11/25$56.08$104.3886.13%
FIX7/24/25$553.09$1,458.87163.77%
MU9/25/25$157.54$896.30468.93%
VIK6/30/25$53.14$83.8857.85%

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  • About the General Market Index (GMI)
  • Welcome to the new *and improved* Wishing Wealth
  • How to use IBD 100 and New America stocks and TC2007 to find potential rocket stocks; Market rally begins
  • 6th day of $QQQ short term down-trend; GMI could signal a Buy
  • Green Dot strategy defined
  • In the hospital. Will resume posting next week. Thank you for your patience.
  • How I use put options as investment insurance
  • My first YouTube Vlog (video blog) Post: Sell in May and Go Away?
  • So, Wishing Wealth Reader, Tell Us About Yourself…
  • 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
  • Day 1 of new $QQQ short term down-trend but about 40% end before day 5; More U.S. new highs than lows (104/77) and 33 at ATH. 63% of Nasdaq100 stocks rose. Oil & Gas (6) and Insurance (5) had most ATHs. EBAY had a GLB on above average volume, see weekly chart. MoneyShow on 10/20, see link.
  • Day 19 of $QQQ short term up-trend, could end on Thursday; 13 of 24 stocks that reached an ATH were Oil & Gas related, see list. PSX had GLB at 190.61 on July 13 and subsequent Blue Dot bounces, see chart.
  • Day 18 of $QQQ short term up-trend; By mistake, I found 11 semiconductor stocks had a rising Blue Dot today, see list. Are semis bouncing? I will explain the rising Blue Dot setup at my MoneyShow talk on October 20, register free on my blog.
  • Day 16 of $QQQ short term up-trend; GMI remains GREEN, see table. 25 stocks traded at an ATH on Friday, 6 were oil&gas and 4 were software firms. One software firm, PLTR, had a GLB on Friday, see daily and monthly charts and my analysis .
  • Day 15 of $QQQ short term up-trend; only 17 US stocks reached an ATH on Thursday, the most (7) were oil & gas related; 6 of them have more than doubled from their lows the past year. See list.

Recommended Reading

QQQ and TQQQ ETF Profit Machine Momentum Masters - A Roundtable Interview with Super Traders - Minervini, Ryan, Zanger & Ritchie II Alan Ellman's Selling Cash-Secured Puts: Investing to Generate Monthly Cash Flow Stock Investing For Students - a plan to get rich slowly and retire young Trade Like a Stock Market Wizard: How to Achieve Super Performance in Stocks in Any Market Exit Strategies for Covered Call Writing: Making the Most Money When Selling Stock Options Complete Encyclopedia for Covered Call Writing Wall Street The Other Las Vegas How to Make Money in Stocks: A Winning System in Good Times and Bad, Fourth Edition Trend Trading: A seven step approach to success How Legendary Traders Made Millions: Profiting From the Investment Strategies of the Gretest Traders of All time The Complete TurtleTrader: The Legend, the Lessons, the Results How to Make Money Selling Stocks Short Reminiscences of a Stock Operator Stan Weinstein's Secrets For Profiting in Bull and Bear Markets Lessons from the Greatest Stock Traders of All Time How I Made $2,000,000 In The Stock Market

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