Blog Post: Day 9 0f $QQQ short term up-trend; $HG having interesting IPO break-out, see weekly chart, and weekly adapted GMMA charts of $QQQ and $NVDA
HG is expected to have earnings up+51% in 2024. First quarter earrings were up +194%. MS Comp rating=96. Check it out.
FYI, QQQ has been in a weekly RWB up-trend since May 2023. It did not fail last October. The weekly adapted GMMA chart can show you the true trend of indexes and stocks. In an up-trend you want all of the red lines to be rising above the blue lines with a white space separating them. The dotted line shows the weekly closes. When the white space disappears it is time to exit or trade very defensive.
Here is the monster. Never a reason to exit. Note the many weekly closes above all of the red lines.
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