Here is my post from the day this chart was published on February 23. WOW!!!!
T2108 is at 4%. This is an amazingly oversold market. See monthly chart.
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Blog Post: Day 30 of $QQQ short term down-trend; 837 US stocks at new yearly lows, 7 highs and 1 at ATH; T2108=5; $SPY back to last green line top, see weekly charts and gap below 4 wk avg.
A close below the green line would be a failure of the GLB in January 2024 and very ominous. Second weekly chart shows SPY has a gap below 4 wk average. Rebound to kiss 4 wk avg is likely. After it does, down-trend may resume. See second chart.
Blog Post: Day 28 of $QQQ short term down-trend; Any stock that can reach an ATH in the midst of this market carnage is worth monitoring; for example, check out $BJ
BJ came up on my TC2000 scan when it had a blue dot (oversold bounce) 11 days after it had reached an ATH on a huge volume up day after earnings were released. After the bounce, BJ continued to hold throughout the subsequent market weakness and today traded at a new ATH. Stocks that can show such relative strength are worth monitoring for purchase when the general market turns. What do buyers know that is driving BJ to new highs?
