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New $QQQ short term down-trend

Thursday, December 10, 2015 @ 9:29 pm by Dr. Wish
GMI1/6
GMI-23/9
T210826%

I am more confident of a change in trend after it has lasted 5 days. The GMI has also flashed a Sell signal but is also subject to whipsaw moves. I am on the sidelines waiting for the trend to define itself more clearly.

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$QQQ short term up-trend in jeopardy

Wednesday, December 9, 2015 @ 10:28 pm by Dr. Wish
GMI2/6
GMI-24/9
T210827%

Market looking mighty weak to me. GMI could issue a Sell signal with a weak day on Thursday.

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46th day of $QQQ short term up-trend; Dow theory warning?

Tuesday, December 8, 2015 @ 9:10 pm by Dr. Wish
GMI3/6
GMI-24/9
T210831%

A lot of bounces off of support are failing. Time to be very defensive. This chart of the Dow Jones Transportation average shows it to be in a Stage IV decline. Is this another Dow Theory sell signal?

DJ2012082015

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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$114.46229.00%
META1/23/24$384.33$715.0486.05%
APP9/17/24$116.09$334.50188.14%
COST12/11/23$615.27$983.1859.80%
GDDY11/22/23$93.75$174.8586.51%
WING11/15/23$223.77$327.1546.20%
CAVA4/22/24$58.10$82.6742.29%
CAH11/3/23$95.45$162.5070.25%
PGR10/13/23$149.87$257.9672.12%
NFLX10/18/24$700.99$1,279.2882.50%
MPTI10/9/23$21.00$40.8094.29%
AGX9/6/24$76.70$203.22164.95%
SFM1/29/24$49.45$160.03223.62%
CBOE8/4/23$138.54$233.0968.25%
VST8/4/23$27.96$185.68564.09%
MOD8/3/23$37.62$101.66170.23%
VRT8/2/23$28.80$124.12330.97%
PSN8/2/23$50.15$73.6146.78%
PHM4/25/23$63.90$111.4174.35%
CRS4/23/24$79.66$273.37243.17%
IBKR2/9/24$95.59$57.58-39.76%
EAT10/1/24$78.33$182.13132.52%
DUOL9/18/24$245.87$399.7462.58%
HWM11/14/23$51.34$174.96240.79%
LRN10/23/24$69.70$137.1996.83%
SPOT11/6/24$387.44$716.7585.00%
CRS4/23/24$79.66$273.37243.17%

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  • About the General Market Index (GMI)
  • Welcome to the new *and improved* Wishing Wealth
  • How to use IBD 100 and New America stocks and TC2007 to find potential rocket stocks; Market rally begins
  • The new 3x ETF’s–triple your pleasure — or pain
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  • So, Wishing Wealth Reader, Tell Us About Yourself…
  • 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 45 of $QQQ short term up-trend; $HOOD takes off with a high volume GLB and closes at ATH, see daily and monthly charts.
  • Blog Post: Day 44 of $QQQ short term up-trend; TA works also for mutual funds; See GLB last week in Fidelity Contrafund, $FCNKX, and learn how I analyze the market and a great source to limit losses.
  • Blog Post: Day 43 of $QQQ short term up-trend; So many breakouts–$RKLB had a high volume GLB on Thursday, see daily and monthly charts.
  • Blog Post: $CLS had GLB on Wednesday. See daily and weekly charts.
  • Blog Post: Day 41 of $QQQ short term up-trend; $QQQ had a blue dot oversold bounce on Monday, see daily chart; $CRDO and $PWR had a GLB on Tuesday, see charts.

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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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