IndicatorsGMI: 6/6GMI-2: 7/8T2108: 30%The post Blog post: Day 40 of $QQQ short term up-trend; $CRWD retakes green line first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 6/8T2108: 32%I went to cash in my trading account yesterday. I want to see if QQQ holds today. We are approaching a traditionally weak period in the market, especially after 2nd quarter earnings are out. GMI has declined to 4 (of 6). The post Blog post: 35th day of $QQQ short term up-trend but many stocks have failed break-outs, getting more defensive, GMI=4 first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 4/6GMI-2: 7/8T2108: 35%I always check the weekly chart before selling anything. This chart shows that the up-trend in QQQ is intact. A weekly close below the 4 wk average (red dotted line) would be first sign of weakening of an up-trend. The post Blog post: 30th day of $QQQ short term up-trend, GMI falls to 4 (of 6), more new lows than highs but weekly chart of QQQ shows strength; I always check weekly chart before selling first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 48%The post Blog post: 26th day of $QQQ short term up-trend; $QQQ remains in daily RWB up-trend first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 5/6GMI-2: 7/8T2108: 49%With the end of the 2nd quarter, mutual funds are dressing up their quarterly reports by buying the strongest stocks. Hence the rally we have seen in the tech stocks as evidenced by QQQ. Since the beginning of the QQQ short term up-trend on 5/26, QQQ has advanced +4.7% while TQQQ has advanced +14.7%. I like to ride TQQQ. Only nine Nasdaq100 stocks have advanced more than TQQQ. The post 21st day of $QQQ short term up-trend; End of quarter Window Dressing time; $TQQQ prevails again first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 7/8T2108: 47%https://drive.google.com/file/d/1M3nT4sAD1eRbVdJ0TBChPq1Y8adcmYKr/view?usp=sharingThe post Here is the link to my 2.5 hour presentation to Long Island StockTraders Meetup Group: https://drive.google.com/file/d/1M3nT4sAD1eRbVdJ0TBChPq1Y8adcmYKr/view?usp=sharing first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 59%I will be presenting at  free online meetings this weekend and next week. One is the TraderLion first annual conference on Saturday afternoon and the other is the Long Island  Stock Traders Meetup. I will be presenting at 2:30 PM EST Saturday at TraderLion and at 7:30 PM EST Wednesday evening at the Long Island Meetup. I wlll present somewhat different material at each, including GLB, yellow-band, WGB, RWB, green and black dot set-ups. I will also show how I use TC2000 and MarletSmith to find promising stocks. Hope to see you there. Growth stocks are gaining strength and $TQQQ is doing nicely. This weekly chart shows that $LOVE has a WGB (weekly green bar) signal, one of the indicators I will discuss at … [Read More...]

IndicatorsGMI: 6/6GMI-2: 3/8T2108: 57%The post $QQQ short term up-trend could end Friday after 6 days; Daily RWB pattern faltering first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 6/6GMI-2: 6/8T2108: 53%The post Blog post; 2nd day of $QQQ short term up-trend; Slowly buying $TQQQ first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 3/6GMI-2: 5/8T2108: 50% The post Blog post: 12th day of $QQQ short term down-trend; $EPAM at ATH, $VEI has break-out from IPO base–will it hold? first appeared on Wishing Wealth Blog. [Read More...]

IndicatorsGMI: 1/6GMI-2: 3/8T2108: 38%While the media pundits blame the market’s fall on the inflation news today, note that the decline started a week ago on May 5th when the $QQQ short term trend turned down. Wednesday was the 6th day of the down-trend.  It is not the news that is important but the market’s reaction. This market wants to decline. If the GMI should register 0 it means that the short term and longer term components are negative. Also, it is very difficult to make money on the long side when the GMI is Red. It turned Red today. Never fight the general market’s trend. Look at these modified daily GMMA charts. RWB (red above white above blue)  up-trends are over and BWR … [Read More...]

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...]