As long as the 6 shorter term averages (red) are rising above the 6 longer term averages (blue) so there is a white space between them, it is a strong RWB up-trend. I follow the market’s trend. Note when I called Day 1 of the short term up-trend.
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Blog Post: Day 34 of $QQQ short term up-trend; Nasdaq100 stocks faltering; but $VITL had an IPO GLB on Monday, see daily and monthly charts and let’s see if it holds
You saw the recent GLB for ARM failed. In a weak market even the best set-ups often fail. That is why one always needs to have strict rules for minimizing losses. For example, if a GLB stock closes back below its green line I sell immediately. VITL has good IBD fundamentals (Comp=99), but can it hold its green line at 43.30? I would have liked to see more trading volume on Monday. Stay tuned….
