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
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 hold its green line at 43.30? I would have liked to see more trading volume on Monday. Stay tuned….
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.
