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Blog Post: Day 21 of $QQQ short term down-trend; T2108=12%, sentiment is extremely negative; Cash is King

Wednesday, May 11, 2022 @ 10:12 pm by Dr. Wish
GMI0/6
GMI-22/8
T210812%

If T2108 declines into single digits, I will be looking for a bottom. The key is to react after the trend has changed and not before. Below is the weekly chart of T2108.

 

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Blog Post: 6 straight weeks of declines in QQQ, see weekly chart and T2108 low; put/call ratio=1.07, bounce coming?

Tuesday, May 10, 2022 @ 9:00 pm by Dr. Wish
GMI0/6
GMI-22/8
T210815%

Getting very short term over-sold with T2108 hitting 12% intraday. Would like to see single digits for a true bottom. But P/C ratio at 1.07 suggests bounce likely.

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Blog Post: Day 19 of $QQQ short term down-trend; 1504 new lows; $TSLA back below green line– failed GLB

Monday, May 9, 2022 @ 8:51 pm by Dr. Wish
GMI0/6
GMI-21/8
T210819%

When a stock has a failed green line break-out (GLB) it often portends more weakness. See weekly chart.

 

 

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Current GMI Signal

RED

since close on April 12, 2022

GREEN LINE BREAKOUT (GLB)

These are stocks/ETFs I am tracking that have had a successful recent Green Line Breakout (GLB) and met some of my other technical criteria. I am tracking their performance below:

*I am not currently tracking any GLB stocks.*

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  • Blog Post: Day 21 of $QQQ short term down-trend; T2108=12%, sentiment is extremely negative; Cash is King
  • Blog Post: 6 straight weeks of declines in QQQ, see weekly chart and T2108 low; put/call ratio=1.07, bounce coming?

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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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