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Day 51 of $QQQ short term up-trend–but QQQ breaks out of channel–possible bearish signal?

Wednesday, January 20, 2021 @ 8:09 pm by Dr. Wish
GMI6/6
GMI-27/9
T210874%

An  overshoot of a channel can be a sign of impending weakness if it fails. We shall see.

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$GM soaring after GLB

Tuesday, January 19, 2021 @ 8:18 pm by Dr. Wish
GMI6/6
GMI-25/9
T210871%

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Blog post: Long term treasury bonds about to enter ominous weekly BWR down-trend, signaling higher interest rates

Thursday, January 14, 2021 @ 7:59 pm by Dr. Wish
GMI6/6
GMI-26/9
T210873%

Mortgage rates will be heading higher and higher interest rates eventually kill bull markets for equities. The Fed has been buying bonds to keep interest rates low. That may be ending?

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Current GMI Signal

GREEN

since close on May 5, 2024

Successful GLBTracker

Selected stocks that have had a successful recent Green Line Breakout (GLB). One can really profit by buying stocks breaking out to all-time highs after a consolidation of 3 months or more, my GLB Setup.

Sym.DateGLB $Now $Chg.
FTAI10/26/23$34.79$110.01216.21%
META1/23/24$384.33$598.0155.60%
APP9/17/24$116.09$339.51192.45%
COST12/11/23$615.27$1,007.7163.78%
GDDY11/22/23$93.75$182.9895.18%
WING11/15/23$223.77$276.1523.41%
CAVA4/22/24$58.10$95.9465.13%
CAH11/3/23$95.45$147.2754.29%
PGR10/13/23$149.87$283.9289.44%
NFLX10/18/24$700.99$1,144.4363.26%
MPTI10/9/23$21.00$54.34158.76%
AGX9/6/24$76.70$171.11123.09%
SFM1/29/24$49.45$158.18219.88%
CBOE8/4/23$138.54$228.1464.67%
VST8/4/23$27.96$140.91403.97%
MOD8/3/23$37.62$93.19147.71%
VRT8/2/23$28.80$95.74232.43%
PSN8/2/23$50.15$64.0427.70%
PHM4/25/23$63.90$103.3661.75%
CRS4/23/24$79.66$209.18162.59%
IBKR2/9/24$95.59$184.4993.00%
EAT10/1/24$78.33$136.6474.44%
DUOL9/18/24$245.87$503.57104.81%
HWM11/14/23$51.34$157.50206.78%
LRN10/23/24$69.70$156.68124.79%
SPOT11/6/24$387.44$655.2669.13%
CRS4/23/24$79.66$209.18162.59%

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  • About the General Market Index (GMI)
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  • Blog post: David, my co-presenter, brilliant colleague of 20+ years died in a freak accident on 2/18; Day 35 of $QQQ short term down-trend; 15 promising stocks to monitor
  • Blog Post: Day 8 of $QQQ short term up-trend; $BJ had another successful Blue Dot set-up, as did $GLD, see daily charts.
  • Blog Post: Day 7 of $QQQ short term up-trend and GMI flashes Green! 17 US stocks at ATHs and up at least 50% the past 12 months worthy of monitoring.
  • Blog Post: Day 6 of $QQQ short term up-trend; $QQQ. $DIA, $SPY, $IWM retake their 10 week averages! Keeping an eye on $UBER, see daily and monthly charts
  • Blog Post: Day 5 of $QQQ short term up-trend; $DRS had a GLB on way above average trading volume, see daily chart.
  • Blog Post: Day 4 of $QQQ short term up-trend; Slowly adding $TQQQ and some individual stocks near their ATHs; $BJ has another blue dot set-up, see daily chart.

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Recommended Reading

Momentum Masters - A Roundtable Interview with Super Traders - Minervini, Ryan, Zanger & Ritchie II Alan Ellman's Selling Cash-Secured Puts: Investing to Generate Monthly Cash Flow Stock Investing For Students - a plan to get rich slowly and retire young Trade Like a Stock Market Wizard: How to Achieve Super Performance in Stocks in Any Market Exit Strategies for Covered Call Writing: Making the Most Money When Selling Stock Options Complete Encyclopedia for Covered Call Writing Wall Street The Other Las Vegas How to Make Money in Stocks: A Winning System in Good Times and Bad, Fourth Edition Trend Trading: A seven step approach to success How Legendary Traders Made Millions: Profiting From the Investment Strategies of the Gretest Traders of All time The Complete TurtleTrader: The Legend, the Lessons, the Results How to Make Money Selling Stocks Short Reminiscences of a Stock Operator Stan Weinstein's Secrets For Profiting in Bull and Bear Markets Lessons from the Greatest Stock Traders of All Time How I Made $2,000,000 In The Stock Market

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