Blog Post: Day 14 of $QQQ short term up-trend, could end Wednesday; 52 new US highs and 69 lows, 14 at ATH; on Fed watch Wednesday; $ERIE at ATH after a GLB, see daily chart and the weekly flag pattern


ERIE reached an ATH on Tuesday. It has a very nice technical pattern, having gapped higher in early August and then consolidating sideways for 5 weeks. In early August, ERIE was added to the S&P MidCap 400. If the market holds on Tuesday, ERIE could rocket higher. It must not close back below its green line (286.49). Note the Bollinger bands are expanding after having constricted. ERIE came up on my scan for stocks at an all-time high, ATH. Keep in mind that few stocks are hitting yearly highs and there are very few at ATHs. ERIE has a MarketSmith Comp rating=99 and RS=93. Insurance companies are likely raising rates, and profits,  after  the recent climate related debacles.

Weekly chart shows a promising flag pattern.

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