GMI back to +6; Market continues to strengthen; Some more strong stocks

There were 144 new highs on Wednesday (in my universe of 4,000 stocks) and the GMI returned to +6.  Gmi1109 82% (83/101) of the stocks that hit a new high 10 days ago closed higher on Wednesday than 10 days earlier.  Buying new highs has been profitable.  50% of stocks are now above their 10 week averages, and 46% are in a short term up-trend.  72% of the Nasdaq 100 stocks closed above their 30 day averages.  75% (127/169) of the stocks that have doubled in the past year closed above their 30 day averages.  On Wednesday, 55% of the Nasdaq 100 stocks rose, along with 60% of the S&P 500 stocks and 63% of the Dow 30 stocks.  Wednesday was the seventh day (U-7) in the QQQQ up-trend.

The market is in a firm up-trend and the growth stocks continue to do well.  Among the stocks that hit new highs Wednesday, that had good recent earnings and that are up at least 60% this year are:  HANS, LMIA, TFR, HSVLY, EPAX, CIB, GHL, ITG, GOL, RES, SUPX.  Check them out for future winners.

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