GMI rises to +4; QQQQ at critical point

The GMI rose to +4 while the underlying market indicators strengthened.  Gmi0103 There were 251 new highs in my universe of 4,000 stocks and 56% of the 172 stocks that hit a new high 10 days ago closed higher Tuesday than they closed 10 days earlier.  31% of stocks are now in a short term up trend, up from 28%, and 71% of the yearly doublers closed above their 30 day averages.  The leading stocks were strong yesterday.  65% of stocks closed above their 10 week averages. The QQQQ is sitting just below its 30 day average.  We will need a few more days to determine whether a new up trend has begun.  Tuesday was the ninth day (D-9) of the current QQQQ down trend.

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