Blog Post: Day 9 of $QQQ short term up-trend; 302 US new highs, 20 lows and 138 at ATH, $TSLA to report earnings this week and looks technically weak, see 10:30 weekly chart and possible shorting ETFs

@ 6:37 pm
GMI6/6
GMI-27/9
T210855%

TSLA reports earnings on Wednesday. I think this 10:30 weekly chart shows TSLA to be technically weak and possibly entering a Stage 4 decline. The stock is below its 10 and 30 week averages, the 10 week is below the 30 week and the 30 week average (solid red line) is starting to curve down. Its green line top is at 414.49, reached in November 2021. To bet on a decline one could buy put options or one of the bearish ETFs, TSLS or TSLQ or TSDD. I prefer to watch safely on the sidelines.

Blog Post: Day 8 of $QQQ short term up-trend and $SPY has a GLB! See daily chart and explanation; $TQQQ beats 95% of stocks again; Learn how to access my TC2000 tutorials

@ 10:25 pm
GMI6/6
GMI-27/9
T210850%

With GMI=6 (of 6) and Green, see table below,  and the SPY now above its green line top from January, 2022, the market is in  short and  longer term up-trends. My QQQ short term indicator signaled a renewed short term up-trend on January 8. I had noted that the market tends to rally during earnings release periods. Since January 8, QQQ is up + 4% and TQQQ is up +11.9%. I began accumulating TQQQ as the short term up-trend developed. Since January 8, only five of the Nasdaq 100 stocks and 6 of the S&P500 stocks have advanced more than TQQQ: For Nasdaq- AMD, PANW, ISRG, NVDA and AVGO. For  S&P500 those 5 + JNPR. Thus, as I have shown repeatedly, in a QQQ up-trend TQQQ advances more than 95% of stocks. Why search for the rare needles in the hay stock (5% or less) that can beat TQQQ. I just ride TQQQ. But I do have smaller positions in three of the 6 stocks.

Note in the chart below the  blue dot signifying an oversold bounce on January 8, followed by a green dot. The black dots show other indicators of oversold bounces. The green line breakout, GLB, occurred Friday with above average trading volume. Tutorials created for our class by my late valued co-instructor, David McCandlish,  show how to add the dots and other indicators to one’s TC2000 charts and can be accessed here. There is a tab on this page for obtaining a small discount for initiating TC2000, which is provided free to my undergraduate class. College students from around the country who are not in my class can receive an academic discount at tc2000.com/academic.