GMI rises to +6; new QQQQ up trend

I did not post yesterday.  I had a cold and could not rally, even though the market did.  The GMI is now at +6, and the market internals have strengthened. Gmi0105  More than two thirds (67%) of the stocks that hit a new high 10 days ago closed higher on Thursday than they did 10 days earlier.  There were 374 new highs on Wednesday and 291 on Thursday.   44% of the stocks in my universe of 4,000 stocks are now in a short term uptrend.  This is up from 33% when the down trend began on 12/20.  71% of stocks are now above their 10 week averages.  55% of the Nasdaq 100 stocks advanced on Thursday, along with  45% of the S&P 500 stocks and 53% of the Dow 30 stocks.  58% of the Nasdaq 100 stocks closed above their 30 day averages, as did 78% of the 211 stocks that have doubled in the past year.  20% of the doublers hit a new high on Thursday.  Six times as many stocks are within 5% of a new high than a new low (30% vs. 5%). Thursday was day one of the new QQQQ up trend (U-1).

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