This daily Guppy chart shows SPY approaching all of the longer moving averages (blue lines). SPY remains in a BWR pattern. Is it a double bottom?
$QQQ still in daily BWR down-trend; 11 stocks hit ATH: $AMED, $SHEN, $AXP, $MSI, $LHCG, $UNH, $OMCL, $VCRA, $GBCI, $YETI, $HELE
While IBD announces new market up-trend after a follow through day on Wednesday, the daily Guppy chart still shows a BWR down-trend. A close (dotted line) above all of the blue lines (longer averages), currently around 192, would suggest a possible change in trend. More meaningful would be if all of the red lines could rise above the blue lines in an RWB up-trend pattern.
Select stocks hitting an ATH on Wednesday: AMED, SHEN, AXP, MSI, LHCG, UNH, OMCL, VCRA, GBCI, YETI, HELE. YETI reports earnings on Thursday.
Another GLB: $CBRL on earnings 11th day of $QQQ short term down-trend
Another high volume GLB to an ATH (see glossary). Who doesn’t like Cracker Barrel?! Earnings beat!
QQQ remains in a daily BWR down-trend.
