General Market Index (GMI) table

All we need is for the 10 week average (blue dotted line) to retake the 30 week average (solid red line).

Many media  pundits fear that the technically weaker DIA and SPY will meet resistance at their 30 week averages and head back down to retest the March lows. While anything is possible, the first major warning sign for me would be a weekly close in any of these indexes below their 4 week averages, and then a penetration of their 10 week averages. For  now, I am holding TQQQ! Since the first day of my QQQ  short term up-trend count, now at U-33, TQQQ is up +54%.

The GMI remains Green and at 5 (of 6).

Dotted line is daily closing price and is now above all 12 exponential moving averages and leading them higher. When all red lines are constricted it signifies little price movement — a short term base.

A GLB is a green line break-out. It signifies a stock that has hit an all-time-high (ATH) that is subsequently not exceeded for at least 3 months and then breaks out to a new ATH. While not all winners, some GLBs go on to do very well. I like to see above average volume on the day of the GLB. If the stock closes back below its green line, it is a failed GLB and I sell immediately but will buy it back if it retakes the green line. The green line is drawn at the peak price on a monthly chart. I often buy GLBs on the day of their break-out if I see them. (I use TC2000 to alert me intraday of a GLB.) Otherwise I wait for the stock to consolidate and bounce off of support or break out again. Here are weekly charts of stocks that had a GLB last week. They need to be researchers and evaluated before buying.

The GMI remains on a Green signal.