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
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 100.37). The GLB (green line break-out) means the stock broke out to an ATH after consolidating for at least 3 months after its last ATH (here, last April).
PI also had a weekly green bar last week after its recent GLB. Note the huge volume on its GLB week. Cup and handle too?
The GMI remains Green, at 5 (of 6).
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.
