IndicatorsGMI: 0/6GMI-2: 2/9T2108: 23%I have lived through many market declines since the 60s. The current decline is small and yet the omniscient media cry out that a market crash has occurred. No one knows how long the current decline will last and it is possible that it is at the beginning, rather than the end. ... Read more The post Blog Post: Day 14 of $QQQ short term down-trend; Finally got the bounce, will it hold? Hint: No one knows, but the GMI =0 and RED. Check out my 10:30 weekly chart of $SPY and how I use it to analyze the market. first appeared on Wishing Wealth Blog ..read more

IndicatorsGMI: 0/6GMI-2: 2/9T2108: 21%The circles in the chart show where there is a gap (a space) between the 4 wk average (red dotted line) and the week’s high. That is often a sign of an oversold stock and the declining stock will often rise to kiss its 4 wk average before continuing its decline. The ... Read more The post Blog Post: Day 11 of $QQQ short term down-trend; Only 6 at ATH out of 6000+ US stocks; Buying stocks at an ATH is very risky now; Stocks with a gap below their declining 10 week averages are oversold and often climb back to kiss their 4wk average before continuing their d ..read more

IndicatorsGMI: 0/6GMI-2: 2/9T2108: 24%In May 1970 (I think), I read in the Wall Street Journal “Heard on the Street” column that the author was sure that the current steep market decline had further to go. That day was the bottom!  So many pundits are searching for the market’s  bottom. I think that when they all ... Read more The post Blog Post: Compared with the decline in 2022, the current decline is just getting started. All stocks are bad unless they are going up, and the psychology has turned and we have been buying tulips. first appeared on Wishing Wealth Blog ..read more

IndicatorsGMI: 0/6GMI-2: 2/9T2108: 29%I have shown repeatedly that buying the triple leveraged ETF, TQQQ,  in a QQQ short term up-trend beats almost all individual stocks. The same can be true for buying the inverse ETF, SQQQ, on Day 1 of a QQQ short term down-trend. The problem is that this is very difficult to do. ... Read more The post Bg Post: Day 9 of $QQQ short term down-trend; Since day 1, QQQ is down -4.2% and SQQQ is up +12.7%. SQQQ has advanced more than all but one of Nasdaq100 stocks (MSTR) and all of the S&P500 stocks! Trading TQQQ or SQQQ at Day 1 of a QQQ short term up ..read more

IndicatorsGMI: 0/6GMI-2: 2/9T2108: 26%With the Wall Street Journal talking about a possible depression and the ominous technical picture I see, it is best for me to be on the sidelines in cash. I have gone to cash in my trading accounts and reduced my exposure to equities in my university retirement accounts and will sell ... Read more The post Blog Post: Day 8 of $QQQ short term down-trend; 28 US new highs, 81 lows and 5 at ATH; I will resist the inevitable sudden bear market bounces and remain safely in cash. first appeared on Wishing Wealth Blog ..read more

IndicatorsGMI: 0/6GMI-2: 1/9T2108: 26%All of the shorter term averages (red) are rising above the longer term averages (blue) in a RWB up-trend. The daily closes are shown by the dotted line. Note the oversold bounce marked by a blue dot in the second daily chart. I plan to explain my blue dot indicator in my ... Read more The post Blog Post: Day 6 of $QQQ short term down-trend; GMI=0; Gold ($GLD) has been one of the best places to take cover from the market’s weakness, see daily charts of RWB pattern and blue dot indicator.. first appeared on Wishing Wealth Blog ..read more

IndicatorsGMI: 1/6GMI-2: 2/9T2108: 31%With QQQ now below its 30 week average, the Stage 2 up-trend is in serious jeopardy. I have begun to transfer university retirement accounts out of mutual funds. I do not want to give up the substantial gains they made the past 2 years. I would rather be safe than sorry. If ... Read more The post Blog Post: Day 5 of $QQQ short term down-trend but $QQQ closes below 30 week average, a major sign of technical weakness. first appeared on Wishing Wealth Blog ..read more

IndicatorsGMI: 1/6GMI-2: 2/9T2108: 38%These 13 stocks on my list of 559 promising stocks reached an all-time high, ATH, on Friday. They are ranked in descending order of the last column, close today divided by close 250 days ago. Only one of them, CCB,  is more than twice its price a year ago. The fact that ... Read more The post Blog Post: Day 4 of $QQQ short term down-trend; GMI=1, see table; Look for leaders among those hitting ATHs; See list of 14 promising stocks at ATHs on Friday, 5 of them are in insurance industry, see daily chart of one of them, $PLMR. first appeared on Wishing W ..read more

IndicatorsGMI: 2/6GMI-2: 2/9T2108: 37%I would not look for one stock, NVDA, to preserve this bull. After 2 years of 20%+ gains in the stock market, we should be prepared for a reversion to the mean. TSLA and MSFT are now in daily BWR declines. Perhaps the last to go will be AAPL. My university retirement ... Read more The post Blog Post: Day 24 of $QQQ short term up-trend, likely to end on Tuesday; GMI=2 and flashes RED; $TSLA and $MSFT in daily BWR declines, see charts; Cash is king! first appeared on Wishing Wealth Blog ..read more

IndicatorsGMI: 2/6GMI-2: 3/9T2108: 39%The leaders are swooning and this is not the time for me to be brave and stay in long positions. There were only 11 US stocks trading at ATHs on Friday. So  purchasing stocks at ATHs is not for me. Also, DIA may be forming a double top. DIA has now closed ... Read more The post Blog post: Day 23 of $QQQ short term up-trend but GMI falls to 2 and could flash RED on Monday; Has $DIA formed a double top?, see weekly chart. first appeared on Wishing Wealth Blog ..read more