I am back in cash. I am a chicken. This high volume gap down could be the beginning of a major decline. They shoot the leaders first. Stay tuned…
Blog Post: Day 4 of $QQQ short term up-trend and GMI remains Green; $NNE had a high volume recent IPO GLB, see weekly and daily charts
NNE, which came public in 2024, had a GLB to an ATH on high volume last week. See the weekly and daily charts. Its RS=99 but it has no earnings. It is in the hot nuclear energy sector and is worth researching. Someone knows something to result in such high volume buying.
The GMI=5 and remains on a Green signal. SPY and QQQ are above their 10 week averages.
Blog Post: Day 3 of $QQQ short term up-trend; 139 US stocks at new highs, 25 at lows and 56 at ATH; 15 stocks with weekly green bar setup, see description of setup and weekly chart of $RKLB
Weekly green bar setup is stocks with 4w>10wk>30wk averages that bounced up off of their 4 week averages and had Relative Strength (SPY) at a 20 week high and reached an ATH in the past 3 months. This list is sorted by close Thursday/close 250 days ago, shown in last column.
RKLB is one example. Note the recent GLB and the bounce up off of both the 4wk (red dotted) and 10 week (blue dotted) averages. Note the Weinstein Stage 2 pattern and that the stock has rarely closed below the 4wk or 10 wk averages. This is the pattern of a strongly advancing stock. The green price bar shows a bounce up off of the 4wk average, which can be a place to get on board. If so, I place my initial stop below the low of the green bar.
