Indicators

• GMI: 2/6
• GMI-2: 3/9
• T2108: 45%

If the 30 week average turns down I will exit the market in all of my retirement accounts. This signal got me out before the bulk of the 2000 and 2008 declines. Note that last April the 30 week average held.

Indicators

• GMI: 3/6
• GMI-2: 3/9
• T2108: 48%

I urge everyone to check out my modified Guppy chart (F5) to assess their stocks’ short term trends. I would never hold any stock in a daily BWR down-trend, especially near earnings. You can get my 5 major chart patterns, including the modified Guppy chart (F5) by subscribing to Deepvue. Learn how I use these charts by reviewing my recent Money Show presentation.

I am so sorry for traders that get caught in these down-drafts. Look at what happened to INTC after earnings release tonight. This chart includes the after market decline. Focus on the stock’s behavior to alert you to probable bad or good news.

Indicators

• GMI: 2/6
• GMI-2: 3/9
• T2108: 40%

QQQ must hold its 30 week average or is at risk of starting a Stage 4 down-trend.  See my recent October 20 Money Show presentation here or on the webinars tab on this blog. Also get the discount for Deepvue and receive my “F” charts.

Indicators

• GMI: 1/6
• GMI-2: 4/9
• T2108: 41%

You can see my MoneyShow presentation here. I explain GLBs, blue dot signals and Guppy charts.

The GMI=1, only because there were more than 100 new highs.   Compare the modified Guppy charts for QQQ and SPY.

Indicators

• GMI: 3/6
• GMI-2: 2/9
• T2108: 35%

I announced that I am now working with my prior exceptional student, Richard Moglen, to include my primary charts prebuilt on the TraderLion program, Deepvue. A link to Deepvue appears at the top of this blog. I explained the GLB setup and showed that the likelihood of a GLB being successful  was related to the market, measured by my  GMI. The result was unexpected. A GMI below 5 was more likely to be successful! In other words, when the market is weak, a stock breaking out of a consolidation to an ATH is showing considerable relative strength. See the chart below. About 60% of the GLBs that occurred when the GMI was 0-4 were successful, compared to about 40% when the GMI=5 or 6.  One must always sell a GLB if the stock closes back below the green line. Deepvue will automatically draw in the green line. I will repeat this preliminary  analysis after I gain more GLBs.

Here are answers to the questions raised by attendees:

1. WHAT STAGE 2ND 3RD 4TH STAGE BASE DO MOST GLB OCCUR?

A GLB will likely occur in Stage 2 and when the modified Guppy chart (F5) is in a RWB up-trend. I prefer a GLB over $30 where the stock is at least 2x its yearly low.

2.What fundamental analysis do you do to determine what ATH’s to choose?

I actually think that an above average volume GLB may be sufficient reason to buy a stock.  Someone must know that something is good or is going to happen. However, I always ask AI to evaluate the stock and list the pros and cons. If the stock has growing revenue or earnings I might be more interested in it.

1. Can we get a copy of your slides? I missed one.

When I release the session recording when I receive it next week, you can view or screen shot my slides.

4.  What is your sell rule(s) after a stock has made a good run of profits?

That is a great question that is difficult to answer for everyone. Some people sell 1/2 of their position after a good profit and raise their sell stop to break even on the rest. I tend to look at the weekly chart and see if the stock breaks below a moving average that generally supports it. A close below the 4 wk avg may be the first sign of weakness and a close below the 10 week would get me out.

1. Dr. Wish what is your TC2000 formula for ATH?

You have to use the built in condition, price new high. This is how I do it along with some other filters.

1. Do you have an AI script to share with us?

I do not understand the question. I merely ask ChatGPT to evaluate a stock.

Thank you to all who attended. Watch here for the link to the recording.

Indicators

• GMI: 1/6
• GMI-2: 1/9
• T2108: 30%

I will be talking about my GLB and Blue Dot setups on Monday afternnon at 1:05 on the online MoneyShow. I will make some exciting announcements. To register for free go here. Ignore the accredited investor check off. You don’t have to be one to attend and you can just say you are one. I have verified this with the program managers. If you register you can get the recording even if you cannot attend. Many people have asked to take my university class. You will learn how to obtain the chart setups I gave to my students.

Take a look at these charts of HALO and BOX. I am always looking for stocks reaching an ATH.

Indicators

• GMI: 2/6
• GMI-2: 3/9
• T2108: 30%

There were 28 stocks at an ATH on Friday. Seven were oil & gas related and 5 were in insurance. Both V and MA were on the list, having recently had a GLB.  Rising interest rates benefit credit cards. QQQ had a high volume decline and the modified daily Guppy chart shows that the RWB up-trend is over. QQQ closed below all 12 of the moving averages, see dotted line. This is the time for me to be in cash in my trading account and to concentrate on preparing my 30 minute presentation for the MoneyShow on Tuesday. Then I will show you how I trade GLBs and analyse their performance. Registration is free and once you register you can get the recording if you cannot attend on Monday at 1:05 PM. Being an accredited investor is not required to attend.

The GMI will likely turn RED by Monday’s close. Note frrom this table that the weekly stochastic is down -16 and well below 80. QQQ and SPY have now closed below their 10 week averages. My trading account is on the sidelines now but I will consider buying some GLBs when they occur. If the GMI reaches zero I will consider moving retirement investments to cash.

Screenshot

Indicators

• GMI: 3/6
• GMI-2: 2/9
• T2108: 31%

Register to see my presentation at the MoneyShow. You do not have to be an “accredited investor.” Get the free recording.

Indicators

• GMI: 3/6
• GMI-2: 3/9
• T2108: 25%

Here is where traders could have prospered the past few weeks. As semiconductors did before them, these stocks have dominated the list of stocks at ATHs. If you did not trade any of them them you might want to rethink your stock selection rules. Seven of them are two times or more their yearly lows, shown in the last column.

Come to my online presentation at the MoneyShow on October 20 and learn how to spot GLBs and Blue Dot oversold bounces.  Here is the link to the free registration. If you cannot attend, you can get the free recording.

Indicators

• GMI: 4/6
• GMI-2: 1/9
• T2108: 29%

By mistake, I filtered stocks that had a rising Blue Dot setup on Tuesday evening. I usually filter stocks that reached an ATH, of which oil &gas stocks had the most today (10). I found the most stocks with a rising Blue Dot were semiconductors. Does this mean that semis are bottoming? We will need to see. I will be speaking about the rising Blue Dot setup at the MoneyShow virtual event on October 20, register free here.  It is a 30 minute online speech and if you register you can gain access to the recording. I hope to see you there. I will make an exciting announcement.

Here are the 11 stocks. Note how many have doubled from their yearly lows, shown in the last column. I have found that when many stocks in the same industry reach an ATH it can be strong bullish sign. I wonder if many stocks in an industry have bounced from oversold, it also means something important. Money tends to flow into  groups.

Here is an example chart of AMD. If I buy an oversold bounce, I put a sell stop just below the low of the bounce.