Blog post: $AAPL and $AMZN and $FB have GLBs, augurs well for $QQQ up-trend, now in 31st day; look at $GOOGL post GLB; GMI remains Green at 6 (of 6)


These weekly charts show that several of the FAANG stocks have recently had GLBs to all-time highs. Since these stocks are heavily weighted in the Nasdaq 100 index (QQQ) it is likely that this ETF will continue to advance. However, if these stocks should close back below their green lines it would signal major weakness.

Look what happened after GOOGL had its GLB last October.


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