GMI= 2 (of 6) and on a Red signal, indexes up against resistance; GLB: $DORM and $FN

@ 10:03 pm
GMI2/6
GMI-25/9
T210853%

During this down-trend there are still a few growth stocks (about 10) hitting all-time highs (ATH). DORM is one, as shown by this weekly chart. Note last week’s above average volume at the Green Line Break-out (GLB, see blog glossary). I wrote about FN last week.

 

The indexes are right up against resistance after the snap back rally. Daily stochastics are very over bought. This week should tell whether we re-test the lows or break through.


$DIA $QQQ $SPY overbought daily stochastic-expect decline; 11 IBD type stocks at ATH this month: $ARGX $DORM $EVTC $PLNT $SEND $KL $TWLO $AYX $IIIV $MTLS $STXB

@ 8:23 am
GMI1/6
GMI-26/9
T210846%

With almost 80% of Nasdaq 100 stocks having their daily 10.4  stochastic above 80, I expect short term weakness. However, during market weakness, the new leaders are easier to spot. These 11 stocks have been on IBD or MarketSmith lists and hit all-time highs this month. Some of them may turn out to be market leaders if the general market trend turns up.

This monthly chart shows that EVTC had a recent green line break-out (GLB, see glossary).