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$QQQ short term up-trend will likely end Thursday; GMI close to turning Red; $QQQ closes below 10 week average

Wednesday, October 28, 2020 @ 10:57 pm by Dr. Wish
GMI3/6
GMI-21/9
T210825%

Time to be very defensive and largely in cash. Between COVID-19 and the imminent election, volatility reigns. I am a chicken and safely on the sidelines. Check out this weekly chart–double top?

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Daily RWB up-trend pattern over for $DIA and $SPY, $QQQ next?

Tuesday, October 27, 2020 @ 9:05 pm by Dr. Wish
GMI3/6
GMI-23/9
T210840%

 

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IBD changes outlook to “uptrend under pressure”; $KOD holds GLB, showing great relative strength

Monday, October 26, 2020 @ 11:00 pm by Dr. Wish
GMI4/6
GMI-24/9
T210846%

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Current GMI Signal

RED

since close on JUL 20, 2026

Successful GLBTracker

Selected stocks that have had a successful recent Green Line Breakout (GLB). One can really profit by buying stocks breaking out to all-time highs after a consolidation of 3 months or more, my GLB Setup.

Sym.DateGLB $Now $Chg.
ENLT6/18/25$20.44$84.24312.13%
SFM1/29/24$49.45$86.4774.86%
CRS4/23/24$79.66$568.73613.95%
AGX9/6/24$76.70$601.81684.63%
BTSG9/9/25$25.57$61.47140.40%
APP9/17/24$116.09$343.68196.05%
EAT10/1/24$78.33$225.49187.87%
PLTR11/5/24$44.91$155.70246.69%
ALMS1/6/26$13.53$27.57103.77%
BE8/22/25$44.95$236.24425.56%
CLS5/1/25$87.00$317.74265.22%
RGC5/1/25$1.55$5.72269.03%
CCJ6/9/25$62.55$94.3150.78%
RHLD8/12/25$54.05$130.10140.70%
GEV5/20/25$447.50$1,009.52125.59%
CLS6/25/25$144.27$317.74120.24%
MIRM8/7/2025$54.23$95.0575.27%
CCJ6/9/25$62.55$94.3150.78%
WDC9/4/25$86.66$459.65430.41%
SNDK9/4/25$58.36$1,280.162093.56%
STX6/3/2025$117.67$863.72634.02%
TTMI6/3/25$30.41$140.13360.80%
MU9/29/25$157.54$887.73463.49%
INBX7/8/25$18.95$84.99348.50%
SPHR9/11/25$56.08$155.95178.08%
FIX7/24/25$553.09$1,732.97213.33%
MU9/25/25$157.54$887.73463.49%
VIK6/30/25$53.14$106.92101.20%

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  • About the General Market Index (GMI)
  • Welcome to the new *and improved* Wishing Wealth
  • How to use IBD 100 and New America stocks and TC2007 to find potential rocket stocks; Market rally begins
  • 6th day of $QQQ short term down-trend; GMI could signal a Buy
  • The new 3x ETF’s–triple your pleasure — or pain
  • In the hospital. Will resume posting next week. Thank you for your patience.
  • How I use put options as investment insurance
  • My first YouTube Vlog (video blog) Post: Sell in May and Go Away?
  • So, Wishing Wealth Reader, Tell Us About Yourself…
  • Blog post: David, my co-presenter, brilliant colleague of 20+ years died in a freak accident on 2/18; Day 35 of $QQQ short term down-trend; 15 promising stocks to monitor
  • Day 1 of $QQQ short term up-trend; Modified daily Guppy chart of QQQ no longer shows BWR down-trend. Is an RWB up-trend on deck? Stay tuned.
  • Blog: Day 20 of $QQQ short term down-trend; GMI=2, see table; QQQ is below its 4wk and 10wk average but is holding its critical 30 wk average, see weekly chart.
  • Blog: Day 19 of $QQQ short term down-trend; Look at the daily modified Guppy chart. Was Thursday a dead cat bounce? The market’s action will reveal the answer during the post earnings season period.
  • Blog: Day 18 of $QQQ short term down-trend; If I had bought SQQQ on Day 1 of the down-trend, I would be sitting on a gain of +29%. See the daily chart of SQQQ.
  • Blog: $IMAX had a high volume GLB (green line breakout) on July 23rd when they reported earnings, and closed Tuesday at an ATH. Homer would be proud, and rich……

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  • Blue Collar Investor
  • CNNMoney: Pre-market Futures
  • Dark Liquidity
  • Seeking Alpha
  • Stock Chartist

Recommended Reading

QQQ and TQQQ ETF Profit Machine 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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