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Blog Post: Day 14 of the $QQQ short term up-trend; $QQQ is still in a daily RWB up-trend, and $GLD is no longer extended, see charts
Guppy chart shows that QQQ is still in a daily RWB up-trend and its weekly chart shows that GLD kissed the 4 wk avg, as I had opined. Having bounced up off of its 4wk avg, GLD is no longer extended and may be a weekly green bar signal. Note all of the prior weekly green bars.
Blog Post: Day 11 of $QQQ short term up-trend; My stock buddy, Judy, taught me that when the weekly price bar is floating above its rising 4 wk average it can be a sign of being extended, see examples in this chart of $GLD
Note the floating bars in the circles. Is GLD extended now? Time will tell. I do not initiate purchases when a rising stock shows this pattern. Stocks often return to the 4 wk average and kiss it or form a top after the week of the float.
