IndicatorsGMI: 6/6GMI-2: 6/8T2108: 78%The post $SBUX heading towards GLB–weekly chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 7/8T2108: 69%RWB up-trend pattern=shorter term averages (red) rising well above rising longer term averages (blue). Dotted line is daily close and leads all averages. Current QQQ market remains in a lateral trading range until it breaks up or down and forms a consistent RWB or BWR pattern (see BWR down-trend last March). Much more difficult to make money now by buying growth stocks. The post Daily modified GMMA chart clearly shows when trading growth is more profitable–when there is a daily RWB up-trend pattern first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 58%Some weekly charts of stocks having a GLB to an ATH this week. Volume total for the week is based on first 4 days and will be much higher by close on Friday. Many of these came up intraday on alerts I had set on TC2000. The post GMI turns Green, first day of new $QQQ short term up-trend; many GLBs: $IIPR $PDD $CGNX $LI $FTCH first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 1/8T2108: 30%Double top may be in place. The post Day 1 of new $QQQ short term down-trend; GMI=1, to turn Red by Friday’s close; cash and $SQQQ first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 4/8T2108: 55%The post $QQQ needs to close (dotted line) above 285.52 to be above all shorter term averages (red lines) first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 6/8T2108: 57% Weekly chart shows how FDX is holding its 4 week average (red dotted line). Note 5 WGBs! The post 6th day of $QQQ short term up-trend; $FDX holds GLB first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 61%QQQ closed (dotted line) above all 12 averages and is leading the shorter term averages (red) above the longer term averages (blue) so there is white space between them= RWB up-trend. $DIA and $SPY have similar patterns. The post Day 1 of new $QQQ short term up-trend! Beginning of daily RWB up-trend for $QQQ first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 3/6GMI-2: 6/8T2108: 35% The post $APPS and $PINS move up after GLB; $QQQ close to beginning daily RWB up-trend first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 1/6GMI-2: 1/8T2108: 18%The post 12th day of $QQQ short term down-trend; Energy sector, $XLE, in severe weekly BWR down-trend first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 3/8T2108: 49%The post 7th day of $QQQ short term down-trend and GMI= Red; Mainly in cash or $SQQQ first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 1/6GMI-2: 3/8T2108: 42%The post 2nd day of $QQQ short term down-trend; GMI=1, could flash Red signal by Friday’s close first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 6/8T2108: 58%The Investors intelligence poll and the p/c ratio are contrarian indicators. Tops occur when more than 60% of newsletter writers are bullish. Bounces occur when the p/c ratio is greater than 1.10. So there is not much fear yet. The VIX, or fear index is at 33.6, elevated but not high compared with levels reached last March or June. When I saw the market down pre-market Wednesday I bought some $SQQQ and rode it up and sold near the close. I sold all else and am now 100% cash and will wait for things to settle down. September is the weakest month for the market and then we have the election. GMI = 4 (of 6) but still Green. The post Contrarian indicators suggest … [Read More...]

IndicatorsGMI: 6/6GMI-2: 4/8T2108: 53% [Read More...]

IndicatorsGMI: 5/6GMI-2: 5/8T2108: 60%Look at yesterdays performance of my FANG watchlist that includes 3 index ETFs , GLD,  the dollar ETF, UUP, and the 5 “FANG” stocks. [Read More...]

IndicatorsGMI: 5/6GMI-2: 6/8T2108: 56% [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 35%While I typically only use T2108 below 10% (% of NYSE stocks above 40 day average) as an indicator of bear market bottoms, I have recently noticed how well it can show developing weakness. As occurred in the huge decline last March, T2108 appears to be entering a daily BWR pattern. The weakness in the Dow 30 and large cap industrial and financial stocks may be spreading. Note Thursday’s decline (dotted line) to a recovery low. I remain very cautious, holding GLD and a few inverse ETFs (FAZ, SDOW). [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 54% [Read More...]

IndicatorsGMI: 3/6GMI-2: 4/8T2108: 40%I successfully avoided the 2000 and 2008 market debacles by getting out when the major indexes closed below their declining 30 week averages. Such a pattern could indicate the beginning of a Weinstein Stage IV decline.  The DIA and SPY have now closed below their declining 30 week averages. Here is DIA in 2007-8 top. And QQQ in 2000. The QQQ is the strongest of the 3 index ETFs and is still above its rising 30 week average. If it closes back below its green line, it would be a sign of a failed GLB and major technical weakness. I am too near retirement and therefore a chicken. So I pulled all of my money out of the market on Friday. It is nice to be on the sidelines. When my indicators … [Read More...]

IndicatorsGMI: 5/6GMI-2: 7/8T2108: 69%Will not be posting again until Monday night. [Read More...]

IndicatorsGMI: 4/6GMI-2: 4/8T2108: 69% [Read More...]