Month: March 2015

3rd day of $QQQ short term down-trend; small-caps out-perform

@ 9:53 pm
GMI3/6
GMI-23/9
T210842%

IBD still sees market up-trend under pressure. The GMI is still on a Buy signal from January, but is holding to a middle 3 our of 6.   The new QQQ short term down-trend must reach at least 5 days for me to be more confident about it. Interestingly, the IWM, Russell 2000 ETF , seems to be showing a lot of relative strength, having just broken above its green line top to an all-time high. Clearly, small-cap stocks are out-performing large-caps right now.

IWM03152015Here is the GMI table. The SPY has now closed below its 10 week average.

Screen shot 2015-03-15 at 9.40.04 PM

First day of new $QQQ short term down-trend; GMI at 2; Bio-techs, including $INGN resilient but has difficult announcement today

@ 6:23 am
GMI2/6
GMI-23/9
T210840%

IBD still sees “market uptrend under pressure.” With the GMI now at 2 it could flash a Sell signal with a second day below 3. The QQQ short term trend is now down but about 40% of these down trends since 2006 lasted 5 days or less. An indication of strength is that the biotechs came through this period strong. Fourteen biotechs hit new highs on Wednesday. Some of them that I have been following for a while and that are in strong RWB up-tends include: CBMG, TSRO, UTHR, QURE, ANAC, INGN , BLUE and RCPT.   Last December I wrote about INGN as a stock my stock buddy, Judy, had talked to me about. It was then at $30.25. It closed at $37.34 on Wednesday. The GMMA chart shows a nice RWB pattern and a green line breakout (GLB) to an all-time high in November. Way to go, Judy!!!! (After this post was first released, I found that INGN released some difficult news that is causing the stock to decline premarket.)

Screen shot 2015-03-12 at 6.09.39 AM

With the leading industry, biotech, (see industry chart below) still showing strength, this bull may only be resting.

Screen shot 2015-03-12 at 6.13.18 AM