IndicatorsGMI: 0/6GMI-2: 1/8T2108: 16%The post Blog Post: Day 27 of $QQQ short term down-trend; $QQQ remains in Stage 4 down-trend, see weekly chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 12%I have recently discovered  a Youtube site (The Restless Page) that my late co-instructor, David, built that shows you how to add some of my indicators and create Guppy charts etc. using TC2000. I have used TC2000 for over 20 years and it is easy to use,  because I can!  I hope you enjoy them. Here is a weekly Guppy chart of QQQ showing it has entered a BWR down-trend (all short term averages , red lines, are declining below longer term averages, blue lines, with a white space separating them). Here is ARKK, which is in much worse technical shape. The post Blog Post: Day 22 of $QQQ short term down-trend; Here are a set of tutorials by my late co-instructor that … [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 29%Maybe QQQ will bounce up off of this trend channel line–thank you Vas! I drew this line weeks ago! This is a Stage 4 down-trend. No time for me to buy and hold. The post Blog Post: Day 17 of $QQQ short term down-trend; QQQ could be close to support, see weekly chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 1/8T2108: 37%How could anyone stay in this stock after it entered a weekly BWR (blue/white/red) down-trend. In contrast, commodities have been in a weekly RWB up-trend. GMMA charts are great for seeing the trend. The post Blog Post: Day 12 of $QQQ short term down-trend; $TDOC has been in a weekly BWR down-trend since May, $DBC in a weekly RWB up-trend, see charts first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 3/8T2108: 50%The major indexes had failed rally attempts. This “naked” chart shows the QQQ 10 week average declining below the declining 30 week average. Not a good sign. Cash is still the best position for me now. The post Blog post: Day 7 of $QQQ short term down-trend; Things looking ominous again first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 3/6GMI-2: 1/8T2108: 51%The post Blog Post: Day 2 of $QQQ short term down-trend; $QQQ still appears to be in Stage 4 down-trend, see weekly chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 2/8T2108: 48%I used TC2000 to scan 615 stocks from  recent IBD and MarketSmith lists. The scan yielded 24 stocks in strong weekly up-trends with high RS that reached an ATH today. They are worth researching and monitoring if the market strengthens. The post Blog post: Amazingly, 24 stocks passed my scan for stocks at ATH and good technicals first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 5/8T2108: 56%Failure to hold above a declining 30 week average is a very ominous sign of weakness.   Too many break-outs are failing.  End of quarter mutual fund window dressing is over. Time to be defensive on the sidelines and wait for the signal. The market should reveal its major trend in a week or so. The post Blog post: $QQQ, $DIA meet resistance at 30 week average; $SPY holds just above; Failure to hold 30 week average could portend significant Stage 4 decline, see weekly charts first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 6/8T2108: 55%The following six stocks came up in my WeeklyGreenBar scan: MP,CMC,ATSG,SQM,NUE,PANW. My stock buddy, Judy, actually called me about MP before I looked at the scan. MP has a high volume GLB on Thursday. The weekly chart shows a cup with handle break-out. The post Blog post: Day 5 of $QQQ short term up-trend; $MP found in scan plus GLB and cup with handle break-out first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 5/8T2108: 51%These stocks all hit an ATH this week and bounced up off of their rising 4 week averages. The seven flagged stocks are on my IBD/MarketSmith watchlist. Here is the daily chart of STLD which came back above  its green line to an ATH. It has a composite rating of 98. The post Blog post: Day 49 of $QQQ short term down-trend, it may end Friday; 13 US stocks found by my Weekly Green Bar scan, see list and $STLD first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 1/6GMI-2: 1/8T2108: 37%There are very few areas of the market showing strength. I ran my TC2000 scan on a watchlist composed of stocks on recent IBD or MarketSmith lists and came up with just 2 stocks. These are stocks having a GLB, green line break-out, to an all-time-high, ATH. They also have RS, relative strength compared with SPY, at a 20 week high. Both showed above average volume today on the break-out. FMC is in agriculture and CMC is in steel and has retaken its green line. CMC has better projected earnings for 2022 of +49% and an IBD composite rating=99. CMC reports earnings on 3/17. I am not suggesting purchasing any of these, only demonstrating a  strategy for finding promising stocks. Here are their … [Read More...]

IndicatorsGMI: 1/6GMI-2: 3/8T2108: 38%SQM  produces fertilizers and lithium. 2022 earnings expected to be up +100%, composite rating =99 and accum/dist=A+ according to MarketSmith. Stayed above its high set in July, 2011. Worth monitoring…. The post Blog post: Day 39 of $QQQ short term down-trend; $SQM has GLB to ATH and cup with handle break-out on above average volume first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 1/8T2108: 24%The bounce Thursday was just like the prior reversals shown with arrows and green price bars. Note that these recent bounces held for a short time only. Upper Bollinger Band is at 369.32 and would have to be penetrated to suggest to me a significant turn. The post Blog post: Day 34 of $QQQ short term down-trend; major indexes reversed up off of lower daily 2.15 Bollinger Band, likely leading to brief advance, see chart first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 33%Approaching the lower daily 2.15 BB. Will it hold?  Sometimes the low is exceeded and then we get an immediate reversal. The post Blog post: Day 30 of $QQQ short term down-trend; Retest of January 24 low (334.15) imminent first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 2/6GMI-2: 3/8T2108: 34%The post Blog post: Day 25 of $QQQ short term down-trend; $QQQ remains in daily BWR decline first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 1/6GMI-2: 4/8T2108: 25%The post Blog post: Day 20 of $QQQ short term down-trend; $ARCH- GLB or lump of coal? Friday will tell. first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 2/8T2108: 18%Weekly chart. Failed GLB and in Stage IV down-trend. Beware small-caps. The post Blog post: Day 15 of $QQQ short term down-trend; 40 new highs and 605 new lows; $IWM in Stage IV decline first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 0/6GMI-2: 1/8T2108: 27%This weekly chart shows that NFLX, which dived tonight after earnings, should have been sold 2 weeks ago when it closed below its 30 week average (red solid line) and below its green line (a failed green line break-out, GLB). These signals help me to avoid major declines. I hold no stock or ETF below its 30 week average or a failed GLB.  And now the major indexes are below their 30 week averages…… The daily GMMA signaled a break in trend in December when the RWB up-trend ended. (red averages converged with blue). $ARKK has been in a Stage IV decline since Thanksgiving. And in a Stage III top May-October. Daily GMMA chart has been in a BWR down-trend  since  Thanksgiving. I … [Read More...]

IndicatorsGMI: 2/6GMI-2: 1/8T2108: 46%The major technical signal that got me out of the 2000 and 2008 declines early was the 30 week average curving down, indicating a Stage IV down-trend. We are not there yet but it begins with closes below that important average. The major part of the decline could still be ahead of us. Friday’s close will be very important to my assessment of the market’s trend. The post Blog post: Day 6 of $QQQ short term down-trend; $QQQ sitting on 30 week average, closing this week below it could signal BEGINNING of Stage IV decline first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 3/6GMI-2: 1/8T2108: 47%I usually look at the adapted GMMA daily and weekly charts to see the trend of the market or individual equities. However, for timing entries and exits, the hourly GMMA may prove useful.  Check out the clear hourly blue-white-red (BWR) down-trends in  QQQ and AAPL and SPY. My former student, Richard Moglen, has a tutorial for creating GMMA charts in TC2000.The post Blog post: Day 1 of $QQQ short term down-trend; holding $SQQQ and cash; see BWR patterns in hourly charts for $QQQ, $AAPL, $SPY and GMMA video first appeared on Wishing Wealth Blog. [Read More...]