GMI: +6; Up trend intact; More leaders

The market weakened a little but the up trend is intact.  The GMI remains at +6.  Gmi0110 74% of the stocks that hit a new high 10 days ago closed higher on Tuesday than they did 10 days earlier.  There were 372 new highs in my universe of 4,000 stocks, a high number but less that the 500+ the prior two days.  56% of stocks are now in a short term up trend and 77% closed above their 10 week averages.  Only 32% of the Nasdaq 100 stocks rose, along with 44% of the S&P 500 stocks and 54% of the Dow 30 stocks.   Only 23% of the stocks that have doubled in the past year hit new highs on Tuesday.  Still, 35% of stocks are within 5% of their yearly highs.  Tuesday was the fourth day (U-4) in the QQQQ up trend…..

Among the stocks that hit a new high on Tuesday, have risen at least 60% the past year and had  triple digit earnings growth the most recent quarter are:  DO, AKAM, HSVLY, VTS, FCX, PDC, CBG,BTJ,PONR,ATHR,SIGM,TRID,TLM, AAPL, LDSH, STMP, SUN, HANS, ISRG, ARD, CNQR, MDR, ESV, JOYG.  Many of these stocks have been leaders for weeks.  I always buy into strength (I own 2 of these stocks).  Strength begets strength………………………..

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