I had a bad day, today. Not in the market, but on the road. Driving back from Baltimore on the interstate, I ran over a piece of wood with nails in it that punctured both tires on the passenger side. I waited over 2 hours for AAA to come and tow me. So I am tired and deflated, puns intended. I need to retire my car tomorrow. So, I will just update the GMI tonight.
The GMI rose to +2. The Daily QQQQ index is on a firm up trend now. The Daily SPY Index is positive again. There were 77 52-week highs today in my universe of almost 4,000 stocks, and 55 new lows. Sixty-nine percent of the NASDAQ 100 stocks rose today, 78% of the S+P 500 stocks and 77% of the Dow 30. The only negative I saw was that the short term interest rate index closed above its 50 day average again, after 2 days below.
Keep an eye on NDAQ if it closes above 15.05. GOOG hit a new high today, as did PRGS. NSI and IVGN may pop again. FORD is on the move again. (I own some of these stocks.)
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Please remember that the stock market is a risky place, especially now. I am not providing recommendations for you to follow. My goal is to share tools and methods that I have used over the past 40 years of trading, so that you may learn from them and adapt them to your trading style and needs. While I do my best, I do not guarantee the accuracy of any statistics computed or any resources linked to my blog. Please consult with your financial adviser and a mental health practitioner before you enter the stock market, and please do not take unaffordable risks in the current market environment. See the About section for more statements designed to protect you (and me) as you navigate this market. Past performance does not guarantee future results, but I would rather learn from a former winner than a loser.