Intraday on Thursday I tweeted (@wishingwealth) that HOFT had a GLB to an all-time high. The actual break-out came on Wednesday on above average volume. HOFT continued rising on higher volume on Thursday. Its RWBCount=12.
QQQ
14th day of $QQQ short term up-trend, RWBCount still 12 (of 12)
Even after Wednesday’s decline in the QQQ, it still has an RWBCount=12, with all moving averages lined up perfectly.
13th day of $QQQ short term up-trend; $PCMI RWBCount=12, BOS and cup with handle
PCMI has an RWBCount=12 (see yesterday’s post for a definition) and has bounced off of support (BOS). And better still, it has retested its recent GLB and may have formed a cup with handle break-out on Tuesday. The volume was a little above average. Let’s see if it can hold on Wednesday.
