Stock Market Technical Indicators & Analysis
As bonds fall rates go up. Something is off. Could this be related to the Fitch downgrade? Look at the red spikes. The market cannot fight rising rates. The QQQ short term up-trend, at 65 days is getting old. Most end before this, see chart below for 2006-2019. The end of a short term up-trend does not necessarily signal the beginning of a large down-trend, only a short term down-trend.
A black dot indicates an oversold bounce. SKX also had a GLB (green line break-out to ATH). Note the huge volume on Friday after earnings were released. I love their new slip-in shoes. I bought some.
PLTR is way down from its ATH= 44.91.
The GMI remains Green, at 6 (of 6).
OC came up on my scan because it had an OSB (oversold bounce) shown by several black dots. It rose on above average volume to an ATH (all-time high). It also met my criteria for a weekly green bar. Note the GLB (green line break-out) in June.
Here is its monthly chart.
And its weekly chart with a green bar. A green bar means it bounced up off of its rising 4 wk avg and its relative strength reached a 20 week high. OC has had a string of green bars. Advancing stocks hold their rising 4 week average.
