IndicatorsGMI: 5/6GMI-2: 3/8T2108: 57%The QQQ showed strength at end of day Thursday. I found some strong stocks having an oversold bounce. These include: DELL, TBK, PCH and BSIG. All are above their green line tops and near their ATHs.  If I buy an OSB stock I sell immediately if the bounce fails. Their daily charts: The post Blog post: Day 2 of $QQQ short term down-trend but 378 new highs among US stocks; Non QQQ type stocks still rising; 4 oversold bounce (OSB) stocks: $PCH $DELL $BSIG $TBK first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 60%I would have liked to see higher volume on this break-out, but FDX broke out after re-testing its last green line break-out (GLB). There is a new green line peak at 305.69 where one would expect some resistance. So this rise could continue to that level. I would then wait to see if it can have a new GLB. I tweeted about FDX intraday. You may follow my tweets @wishingwealth. Another stock that is advancing after a retest of its GLB is $CHUY. Not sure of its fundamentals though. $FB has also retaken its green line. Understanding the GLB can lead to some large gains. From my glossary: Green Line Breakout (GLB) I draw a green line on a monthly stock chart … [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 53%The post 14th day of $QQQ short term up-trend; $SEAS breaks to ATH after Wish-Darvas scan; 3 new ones with above average volume : $ONTO, $AMAT, $WSC first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 7/8T2108: 56%I keep my losses small. Each person must determine his own risk level.The post In a market like this I have to remind myself that each small loss I take brings me closer to the next gain; 9th day of $QQQ short term up-trend first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 56%GNRC has been consolidating its huge February gain after earnings. After 4 black and one green dot it may be getting ready to move up. The dots indicate bounces from oversold levels. Earnings are projected to grow +32% in 2021 and it has an IBD composite rating of 98 and an EPS rating of 95, ROE=34%. Finding support at 10 week average, purple dotted line. Clearly a Yellow Band stock since its GLB in July. The post 5th day of $QQQ short term up-trend; With expectations of a strong hurricane season, it could be a good time to consider $GNRC first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 3/6GMI-2: 5/8T2108: 49%But I trust a new short term up-trend more once it reaches 5 days. Still, I might buy a little TQQQ. Note the narrowing Bollinger bands. Big move coming, up or down. Stay tuned. The post Blog Post: $QQQ short term down-trend could end on Thursday, after 27 days, but window dressing over first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 1/8T2108: 50%Weekly charts. The post Blog post: While tech stocks lag, $LOW and $HD have GLB first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 2/8T2108: 59%This chart shows that QQQ has fallen back below all 12 daily moving averages. Could form a daily BWR down-trend. The pundits are talking about rotation from tech to value stocks. But in my experience, tech has always led. It could be we are seeing a top in tech to be followed by a top in the other stocks after the laggards rise a little. Sell in May is also on the horizon. This is the time to be in cash and on the sidelines. The market discounts the future.  It rose during the pandemic as  it focused on the coming recovery. It would not be unusual for the market to decline during the economic recovery as it foresees inflation, higher rates and an … [Read More...]

IndicatorsGMI: 4/6GMI-2: 5/8T2108: 63%The post $DKNG retakes green line, just short of ATH first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 2/8T2108: 46%Weekly chart shows QQQ still above critical rising 30 week average (solid red line). It is therefore still in a longer term Weinstein Stage II up-trend. Notice the heavy selling the past 2 weeks. A close below this average would be a dire signal. In the past, I would exit the market in my university pensions when the 30 week average curved down. When that happened it was often the beginning of a major market decline.  Stay tuned. The buy the dip crowd is getting a taste of how difficult it can be to ride the market. The GMI has closed below 3 for 2 days and this has triggered a Red signal. It is much easier to make money trading long when the GMI is Green. Mainly … [Read More...]

IndicatorsGMI: 3/6GMI-2: 2/8T2108: 56%SQQQ is a leveraged inverse ETF, designed to rise 3x as much as QQQ declines. It also  falls 3x as much as QQQ rises. The post Day 3 of $QQQ short term down-trend; $SQQQ shines, up 10.6%; GMI declines to 3 (of 6) first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 4/8T2108: 66%Stocks tend to rise in anticipation of earnings and rest or decline afterwards. I expect more churning until the end of quarter mutual fund window dressing period in late March  and the anticipation of first quarter 2021 earnings. Also, most QQQ short term up-trends end by 80 days. The post Blog: 71st day of $QQQ short term up-trend; Post-earnings lull period? first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 73%The post 67th day of $QQQ short term up-trend but 20 year treasuries ($TLT) are in a Stage IV decline=rising interest rates first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 66% The post 62nd day of $QQQ short term up-trend; Betting/igaming ETF, $BETZ, hitting the jackpot first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 5/8T2108: 53%The post $QQQ back in channel after over-shoot–potential sign of technical weakness first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 71%The post Blog post: $QQQ outside channel; return to inside channel will signal weakness first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 73%Mortgage rates will be heading higher and higher interest rates eventually kill bull markets for equities. The Fed has been buying bonds to keep interest rates low. That may be ending? The post Blog post: Long term treasury bonds about to enter ominous weekly BWR down-trend, signaling higher interest rates first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 5/8T2108: 75%This weekly chart shows that $QQQ is likely to end this week with a weekly green bar (WGB) as it retakes its 4 week average (red dotted line) and closes the week higher than last week’s close. A close next  week below the low of this week’s WGB (305.18) would be a significant sign of short term technical weakness. Advancing stocks and ETFs hold the pattern of weekly closes above the 4 wk  and 4wk>10wk>30wk. For now, QQQ remains in a strong up-trend. The post 43rd day of $QQQ short term up-trend; $QQQ likely to have WGB first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 72%Jesse Livermore once wrote how easy it was to unload stocks on the public during a decline from highs. ZM may not be a bargain here. I never buy a stock when its shorter term averages (red) are declining below the falling longer term averages (blue). The post The times, they are a-changing–$ZM in daily BWR pattern for first time since last December first appeared on Wishing Wealth Blog. [Read More...]