All of my indicators are now positive. NTES retested its recent GLB and moved up on high volume on Monday.
Flying on instruments; GLB: $ROCK
With the GMI at 6 (of 6) and the QQQ short term trend now up, I must grit my teeth and wade back into this market. I have to heed my indicators and not my emotions. Perhaps good 2nd quarter earnings will propel a lot of stocks higher. I am monitoring stocks with green line break-outs (GLB) to all-time highs. Check out ROCK, which last Friday broke through a top last reached in May, 2006:
New $QQQ short term up-trend; recent GLB, $WB powers higher
Thursday was the first day of the new QQQ short term up-trend. I am more confident of a change in trend once it lasts for 5 days. I will look towards slowly taking a position in TQQQ, the 3X leveraged bullish ETF for QQQ. Meanwhile the recent GLB, $WB powered higher on Thursday on above average volume.
