29th day of QQQ short term up-trend; AAPL’s week

@ 10:06 pm
GMI6/6
GMI-26/9
T210878%

Both the GMI and GMI2 are at their maximum readings.     The GMI buy signal of July 30 remains in effect. 50% of the Nasdaq 100 stocks have now closed with their MACD above its signal line, a sign of short term strength. However, the Worden T2108 indicator is now at 78%, very close to extreme overbought territory. This week AAPL announces the new iphone 5.   The reaction to the announcement will be very interesting to watch and may provide an indication of the health of the market, at least with regard to tech stocks. This weekly chart of AAPL shows how nicely AAPL has progressed since breaking a green line top to an all-time high a few weeks ago. Click on chart to enlarge.

 

 

 

LL and ASH at new highs; my Worden video and webinars

@ 7:00 am
GMI6/6
GMI-24/9
T210867%

LL came up on my new high with good fundamentals TC2000 scan Wednesday night. On August 18, I posted about LL breaking to an all-time high. It is now about 10% higher. This weekly chart of LL shows it breaking above a 2 year green line base to an all-time high and continuing to gain strength.   LL is also on one of my watchlists that indicate that IBD wrote about it as a promising stock. IBD currently gives LL the highest possible composite rating of 99.

ASH also came up in Wednesday’s scan. This monthly green line chart shows that ASH is close to breaking the all-time high it reached in 2006 (75.17).   A close above this level could trigger a new rise in this stock, which also has an IBD composite rating of 99.

You can check out my recent Worden Workshop video by clicking here. You can also view two of my free Worden webinars from 2010 by clicking   here and here.   Enjoy!!!