Blog Post: Day 1 of new $QQQ short term down-trend, see daily chart and the GMI table
Wishing Wealth Blog
by Dr. Wish
2d ago
Indicators GMI: 3/6 GMI-2: 4/9 T2108: 61% Roughly 40% of new short term down-trends end in 5 days or less. Once it passes 5 days I become more confident of the change in trend. Note the higher volume recently on the down days. My GMI is still on a Green signal. So I wait on the sidelines in my trading accounts and invested in mutual funds in my longer term retirement accounts. ScreenshotScreenshotThe post Blog Post: Day 1 of new $QQQ short term down-trend, see daily chart and the GMI table first appeared on Wishing Wealth Blog ..read more
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Blog Post: Day 51 of $QQQ short term up-trend, up-trend may end Friday; Minervini’s terrific book in tweet is a system error; $QQQ daily RWB up-trend pattern may also be ending, see chart
Wishing Wealth Blog
by Dr. Wish
3d ago
Indicators GMI: 6/6 GMI-2: 4/9 T2108: 65% ScreenshotThe post Blog Post: Day 51 of $QQQ short term up-trend, up-trend may end Friday; Minervini’s terrific book in tweet is a system error; $QQQ daily RWB up-trend pattern may also be ending, see chart first appeared on Wishing Wealth Blog ..read more
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Blog Post: Day 50 of $QQQ short term up-trend, this up-trend may end soon; The blue arrows in this daily chart show the two recent distribution days suggesting a possible larger decline
Wishing Wealth Blog
by Dr. Wish
3d ago
Indicators GMI: 6/6 GMI-2: 4/9 T2108: 70% I posted after the first distribution day (first arrow) that the subsequent reaction rise needed to exceed the high of that down day. It did not. There were 3 lower volume up days. Now we have a decline on larger volume. I am in cash and TBIL in my trading account. If we get a tradable bounce I will start buying TQQQ. Note that T2108 is 70%, reflecting the contrasting strength in NYSE stocks. Screenshot   The post Blog Post: Day 50 of $QQQ short term up-trend, this up-trend may end soon; The blue arrows in this daily chart show the two recent d ..read more
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Blog Post: Day 49 of $QQQ short term up-trend; 568 US new highs and 6 lows, 204 at ATH; $KEX has GLB, see daily and monthly charts
Wishing Wealth Blog
by Dr. Wish
1w ago
Indicators GMI: 6/6 GMI-2: 6/9 T2108: 71% KEX broke its ATH from 9/2014 today on high volume. I tweeted it out intraday @wishingwealth. ScreenshotScreenshotThe post Blog Post: Day 49 of $QQQ short term up-trend; 568 US new highs and 6 lows, 204 at ATH; $KEX has GLB, see daily and monthly charts first appeared on Wishing Wealth Blog ..read more
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Blog Post: Day 48 of $QQQ short term up-trend; $IWM back in daily RWB up-trend, see chart
Wishing Wealth Blog
by Dr. Wish
1w ago
Indicators GMI: 6/6 GMI-2: 7/9 T2108: 62% ScreenshotThe post Blog Post: Day 48 of $QQQ short term up-trend; $IWM back in daily RWB up-trend, see chart first appeared on Wishing Wealth Blog ..read more
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Blog Post: Day 47 of $QQQ short term up-trend; 309 US new highs and 2 lows! But tech is lagging. T2108 spikes to 61%
Wishing Wealth Blog
by Dr. Wish
1w ago
Indicators GMI: 6/6 GMI-2: 7/9 T2108: 61% I am waiting to see if QQQ and tech stocks can make up for the high volume distribution day last Thursday, designated by arrows. QQQ looks extended to me on a weekly chart. But the GMI remains Green and strong. I may buy TQQQ in my trading account on a good bounce up off of support. I still am holding mutual funds in my retirement accounts. Screenshot ScreenshotThe post Blog Post: Day 47 of $QQQ short term up-trend; 309 US new highs and 2 lows! But tech is lagging. T2108 spikes to 61% first appeared on Wishing Wealth Blog ..read more
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Bog Post: Day 45 of $QQQ short term up-trend, but after 7 consecutive days up, see daily chart, and Investors Intelligence poll above 60% bullish, be careful and have sell stops in place.
Wishing Wealth Blog
by Dr. Wish
1w ago
Indicators GMI: 6/6 GMI-2: 7/9 T2108: 40% ScreenshotThe post Bog Post: Day 45 of $QQQ short term up-trend, but after 7 consecutive days up, see daily chart, and Investors Intelligence poll above 60% bullish, be careful and have sell stops in place. first appeared on Wishing Wealth Blog ..read more
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Blog Post: Day 42 of $QQQ short term up-trend; GMI=5 (of 6) and Green
Wishing Wealth Blog
by Dr. Wish
2w ago
Indicators GMI: 5/6 GMI-2: 6/9 T2108: 33% ScreenshotThe post Blog Post: Day 42 of $QQQ short term up-trend; GMI=5 (of 6) and Green first appeared on Wishing Wealth Blog ..read more
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Blog Post; Day 41 of $QQQ short term up-trend; $QQQ barrels ahead with a daily RWB pattern, see chart
Wishing Wealth Blog
by Dr. Wish
2w ago
Indicators GMI: 4/6 GMI-2: 7/9 T2108: 37% As long as the 6 shorter term averages (red) are rising above the 6 longer term averages (blue) so there is a white space between them, it is a strong RWB up-trend. I follow the market’s trend. Note when I called Day 1 of the short term up-trend. ScreenshotThe post Blog Post; Day 41 of $QQQ short term up-trend; $QQQ barrels ahead with a daily RWB pattern, see chart first appeared on Wishing Wealth Blog ..read more
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Blog Post: Day 38 of $QQQ short term up-trend; Weekly 10:30 charts show $QQQ and $SPY in a solid up-trends
Wishing Wealth Blog
by Dr. Wish
3w ago
Indicators GMI: 5/6 GMI-2: 4/9 T2108: 36% So many pundits claim that the markets are due for a decline. Instead of predicting Mr. Market, we would do better to just react to what he is doing. These 10:30 weekly charts look strong to me. The gray line is the weekly close and the dotted line is the 10 week moving average. The solid red line is the critical 30 week moving average of weekly closes. Compare the 2022 decline to the present trend. What do you see? Both the charts of $QQQ and $SPY tell me the same story. There is plenty of time to exit when the 10 week closes repeatedly below the 3 ..read more
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