Stock Market Technical Indicators & Analysis
I especially like APP because it is a recent IPO and has strong fundamentals. According to MarketSmith, it will move to profitability this year and then is estimated to have earnings up 215% in 2022. Last quarter’s eps +167% and sales +123%. Funds only own 13% of shares. Worth watching now that it has had a GLB. Earnings due 10/28.
SPY has now closed above its 10 week average.
By the way, if you search Dr Wish on youtube you can find my TraderLion workshop presentation and a tutorial on putting my green and black dot signals on TC2000 charts. Look for Rising Stochastic Indicators tutorial just completed by my co-instructor.
Weekly charts show stock patterns most clearly. WAL has had a nice cup and small handle break-out.
As BLDR.
And FOCS
And LPLA
And KFRC
I am also watching UPST for a possible GLB. See monthly chart.
The GMI remains on a Red signal but in the past has been slow in catching bottoms. Only 40% of newsletter writers are bullish, down from over 60%. Remember, bottoms often occur in October and 3rd quarter earnings are about to come out. Watch how the market reacts to earnings as an indication of its health.