Monday was another strong day. 74% of the Nasdaq 100 stocks rose, along with 61% of the S&P 500 stocks and 63% of the Dow 30 stocks. There were 432 new highs in my universe of 4,000 stocks. 51% of the stocks are in a short term up trend and 71% closed above their 10 week averages. 34% of stocks closed within 5% of their 52 week highs. The GMI was +5, but the Daily QQQQ Index was too close to call. One more up day will turn it definitely positive. I therefore tentatively called Monday the sixteenth day in the QQQQ short term down trend. The GMI is very close to turning +6. The GMI-L is now a perfect 100 and the GMI-S is at 88. A lot of stocks are turning up on high volume. Check out: ALKS, MLNM, FIX, WIBC, PWR, ECLP, CLZR, KG, REGN, ARNA, AMTD. A lot of biotech and drug stocks seem to be doing well.
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