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
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 SPY, at a 20 week high. Both showed above average volume today on the break-out. FMC is in agriculture and CMC is in steel and has retaken its green line. CMC has better projected earnings for 2022 of +49% and an IBD composite rating=99. CMC reports earnings on 3/17. I am not suggesting purchasing any of these, only demonstrating a strategy for finding promising stocks. Here are their daily charts. If I buy a stock breaking above its green line top on above average volume, I must sell it immediately if it closes back below it. Any stock that can come through this market at an ATH is worth monitoring.
