General Market Index (GMI) table
Blog Post: Day 30 of $QQQ short term up-trend; 293 US new highs and 11 lows; Mutual Fund window dressing upon us- the strong will shine; $DIA had GLB to ATH last week, see weekly and monthly charts
The GMI is Green and at 6 (of 6). We are entering the end of the 4th quarter when mutual funds buy up the strongest stocks so their quarterly reports make them look good.
Blog Post: The market is strong with many growth stocks setting up; Here are 13 stocks that have all doubled over the past year, reached an ATH on Friday, and 9 of them met my criteria for a weekly green bar setup, indicated by the last column. See weekly chart of $PHM.
My weekly green bar setup looks for rising stocks that bounced up off of their rising 4wk average and reached a 20 week high in relative strength vs SPY. I buy them and place my stop just below the week’s low. They are sorted by current price/price 250 days ago. All of these are at least 1.9x their prices a year ago. Note that 3 of these are residential builders (MHO. PHM, TOL).
Note the weekly green bar on PHM, which is riding its 4 wk average higher (red dotted line). My GLB Tracker table, to the right, shows that PHM is up over 50% since its GLB last April.
The GMI remains Green and is at 6 (of 6).
