Blog Post: Day 5 of $QQQ short term down-trend; $XOM stands out as a climbing rocket, see daily chart and details.
It is possible to find some new leaders to trade. But with most of the former leaders weakening, it is best for me to be mainly in cash. For me, a rising launched rocket is one that climbs continually above its rising 5 day EMA. I use TC2000 to find stocks that have had a GLB, are hitting all-time highs, and that are finding support at their rising 5 day EMA. When the market straightens out I will show some of these scans and how I trade them. There is a tab on this blog with a discount coupon for TC2000.
