IndicatorsGMI: 6/6GMI-2: 6/8T2108: 73%I am finding so many stocks to buy! We must focus on the current movement of the market and ignore the noise from the news and media pundits. I am slowly starting to reinvest my university pension accounts into mutual funds. I had transferred to money market funds in November, 2021. It is important to focus on the present and not back on the past. With the GMI=6 and the QQQ short term trend up, I am much more confident to wade back into this market. SPY is likely to close its 4th week above its 30 week average, and DIA is completing its 6th!   QQQ is lagging and working on its first week. Bottom line is Stage 4 declines in these indexes may be ending! See … [Read More...]

IndicatorsGMI: 5/6GMI-2: 5/8T2108: 73%This weekly chart looks promising as the 30 week average (red solid line) is about to curve up. This is a prime signal for me to begin tiptoeing into the market again. If SPY closes back below the 30 week average I will quickly exit. The post Blog Post: Day 9 of $QQQ short term up-trend; $SPY has is likely to close above its critical 30 week average for the third week–end of Stage 4 decline? See chart. first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 5/8T2108: 68%When T2108 declines to <10%, it often signals the bottom of the decline. See monthly chart. The post Blog Post: Day 5 of $QQQ short term up-trend; 72 US new highs and 201 lows; $T2108 <10% may have suggested market bottom yet again, see monthly chart</a> first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 3/6GMI-2: 5/8T2108: 75% The post Blog Post: GMI stays Green; $QQQ short term down-trend may end Friday; 181 US new highs and 166 lows; $ALB and $CASY advance after recent GLBs, see charts first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 1/8T2108: 53%The post Blog Post: Day 1 of new $QQQ short term down-trend; GMI=2, may flash RED Friday; 92 new US highs, 393 lows, 22 at ATH; $HRMY has GLB, see weekly chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 4/8T2108: 56%Shown in this daily chart of QQQ is the percentage bullish on QQQ based on a weekly poll of  my freshmen class of 123 students. They are learning how a contrarian indicator functions. The post Blog Post: Today is Day 4 of new $QQQ short term up-trend; GMI turned Green on October 26. see my class poll on sentiment on QQQ first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 1/6GMI-2: 4/8T2108: 30% Weekly BWR down-trend. The post Blog Post: 79 US new highs and 353 new lows; 20 yr treasury bonds continue to sink, $TLT in weekly BWR down-trend first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 1/8T2108: 29%No one knows whether today’s bounce will hold. However, stocks at ATH could turn out to be leaders. LPLA has held up well the past few weeks. Here is the weekly chart.It has a weekly green bar. I place my stops below the low of the week with a green bar. As does AMLX and a recent GLB. And INSW And SGML CI, but no weekly green bar. The post Blog Post: 70 US new highs and 1008 new lows; Some promising stocks at all-time-highs Thursday: $LPLA, $AMLX, $INSW, $CI, $SGML, see weekly charts. first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 4/8T2108: 27%Long rates continue to rise as 20+ year treasury bonds fall. As the Fed raises short rates. The post Blog Post: Day 28 of $QQQ short term down-trend; 54 US new highs and 197 new lows; long bonds, $TLT, remain in BWR daily down-trend as Fed raises short rates, see charts first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 13%AAPL closed below its last green line break-out (GLB) top. Note the above average volume. Monthly chart. The post Blog Post: 13 US new highs and 888 new lows; 1 ATH; p/c ratio=1.14; more bears than bulls again; they finally shot the general–$AAPL, see charts first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 16%“Finally there came the awful day of reckoning for the bulls and the optimists and the wishful thinkers and those vast hordes that, dreading the pain of a small loss at the beginning, were now about to suffer total amputation-without anesthetics.” This quote appears in this slide which I will show my students tomorrow. It is indeed unfortunate that many older persons, and especially retirees, are having their financial lives threatened by the current declining market. This is why I publish this blog and teach young people what I wish someone had taught me at their ages. The post Blog Post: 1,011 new yearly lows for US stocks on Thursday; I am so sorry for those well meaning but uninformed people who … [Read More...]

IndicatorsGMI: 1/6GMI-2: 1/8T2108: 30%Market could fall to last green line break-out at 295.87 (GLB) which occurred after the pandemic decline,  in November, 2020. A decline below that green line could induce heavy selling and a market bottom. But we do not need to predict, just to react after a bottom is firmly in. But how  will  we  know  that? Looking back to the 2020 bottom, this weekly 10:30 chart of DIA shows how to discern a bottom. The 10 week average (dotted line) turns around and climbs above the 30 week average. Once that happened one had 1.6 years to ride the up-trend until the 10 week average closed back below the 30 week, see chart below.  One does not have to catch the bottom. Wait until it is in place before risking one’… [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 38%Only 2 of these stocks at an ATH on Thursday have doubled from a year ago, RXDX and ENPH. This was a valued criterion used by Nicolas Darvas to select stocks to buy. A stock that has already doubled is more likely to double again. David Ryan and Brad Koteshwar have also mentioned this as a characteristic of a winning stock. CEG is a recent IPO. The post Blog Post: Day 8 of $QQQ short term down-trend; 16 stocks on my IBD/MS watchlist hit an ATH on Thursday, see list, sorted by change from a year ago. first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 34%Tomorrow afternoon I welcome 135 freshmen to my class. It will be a challenge keeping them interested in a market in a down-trend. The virtual trading exercise will also be difficult for them. I am also teaching without the help of my late colleague and co-instructor, David McCandlish, whose untimely death in a boating accident last February has pained us all. However, introducing young people to technical analysis tools is very rewarding to me. The GMI is back to 0 and this is no time to be taking on many long positions. Many break-outs fail. An example of a failed green line break-out, GLB, is CELH. Look at this daily chart. On august 23 it had a nice break-out above its green … [Read More...]

IndicatorsGMI: 5/6GMI-2: 1/8T2108: 68%Stocks with a flag are on my IBD/MS watchlist. Bottom 2 with an * came public in past year. Somewhere in this list is one or more new market leaders. The post Blog Post: Day 29 of $QQQ short term up-trend; see list of 19 stocks at ATH, sorted by change in price since a year ago first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 78%The post Blog Post: Day 24 of $QQQ short term up-trend; $ON had a GLB on above average volume, comp=98, see daily chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 79%As long as the major indexes hold their 30 week averages the Stage 4 down-trend may be ending. Here are 10 stocks that came up from my Weekly Green Bar scan of stocks on my IBD/MS watchlist. The post Blog Post: Day 19 of $QQQ short term up-trend; $DIA, $QQQ, $SPY back above their 30 week averages first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 6/8T2108: 70%We still have yet to get 100 new yearly highs among US stocks that will incease the GMI to 6/6. This market continues to climb. However, only 2 stocks came up in my Weekly Green Bar scan of 806 stocks in my IBD/MS watchlist. DGII and OTTR have also had GLBs this week. Here are their weekly charts. Note their volume through Thursday has already exceeded their typical full week’s volume. Part of my scan requires that RS (relative strength vs SPY) to be at a 20 week high. The weekly green bar on the chart represents a bounce up off of a rising 4 week average (red dotted line). The post Blog Post: Day 14 of $QQQ short term up-trend; GMI=5 now that QQQ closed above its 30 … [Read More...]

IndicatorsGMI: 4/6GMI-2: 6/8T2108: 67%I scanned my watchlist of 807 stocks that had been on IBD or MarketSmith lists in the recent past. These 26 stocks, sorted by close today/close 250 days ago, may include some new market leaders. Note that CEIX is at the top, having almost tripled during the past year. Here is its monthly chart. LNTH is ranked second. Here is the full list. The post Blog post: Day 9 of $QQQ short term up-trend; First time >100 (106) new US highs since June 8; 26 IBD/MS stocks at ATH sorted by gain over last year; $CEIX, $LNTH….. first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 5/8T2108: 54%The place where QQQ has found support is at its trend channel line (red line). If this rally fails that is the likely next support which coincidentally is near where the last GLB in 2020 occurred. On the other hand, the place where this rally may stall out is at its 30 week moving average (red line curving down). We will just have to wait to see the outcome and be very nimble. I am slowly buying TQQQ to ride this short term up-trend. If it stalls I will exit immediately. QQQ is still in a stage 4 down-trend. The post Blog post; GMI flashes Green; Day 4 of $QQQ short term up-trend; Weekly chart shows likely support and resistance for QQQ first appeared on … [Read More...]