Blog Post: Day 14 of the $QQQ short term up-trend; $QQQ is still in a daily RWB up-trend, and $GLD is no longer extended, see charts
Guppy chart shows that QQQ is still in a daily RWB up-trend and its weekly chart shows that GLD kissed the 4 wk avg, as I had opined. Having bounced up off of its 4wk avg, GLD is no longer extended and may be a weekly green bar signal. Note all of the prior weekly green bars.
Blog Post: Day 12 of $QQQ short term up-trend; $AGX had GLB 4 weeks ago and a weekly green bar setup last week; it must hold last week’s low
I teach my students that if they miss buying at the time of a GLB, a possible place to buy is when the stock subsequently has a weekly green bar setup. This means that the 4wk>10wk>30 wk and the 4 wk is rising and it had a 20 week high in RS (SPY). The stop loss would be placed just below that week’s low. This assumes one also likes the fundamentals.
