Blog Post: IBD calls market in Confirmed Up-trend but GMI remains at 0; 7 stocks at ATHs: $BMY, $MRK, $CVX, $MUSA, $PAG, $MPC, $PAG, see weekly charts

GMI0/6
GMI-22/8
T210824%

These seven stocks appear in my watchlist of stocks recently mentioned by IBD or MarketSmith. This weekly chart shows how MPC has been in a firm up-trend. Note the retest of its GLB. Its 4wk>10wk>30wk since January. Note how it holds its 4wk average and has multiple green bars indicating support at the 4 wk. It has also found support at its 10 week average.

MUSA has a similar strong pattern. Note how it has closed 10 weeks in a row above its 4 wk average. That is a sign of a strong up-trend.

 

1 thought on “Blog Post: IBD calls market in Confirmed Up-trend but GMI remains at 0; 7 stocks at ATHs: $BMY, $MRK, $CVX, $MUSA, $PAG, $MPC, $PAG, see weekly charts”

  1. Hello Dr. Wish! Your site is most informative. Did IBD change their view after today’s sell off or are they still calling a confirmed uptrend for the market? Thank you!

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