GMI: +6; QQQQ still stronger; watching for a QQQQ break out

The GMI remains at +6.  There was minor deterioration in some indicators.  However, the Nasdaq 100 stocks still appear to be stronger than the other large cap stocks.  Gmi0330_1 59% of the Nasdaq 100 stocks rose on Thursday, compared with 32% of the S&P 500 stocks and 23% of the Dow 30 stocks.  The QQQQ did trade above its channel line on Friday (see yesterday’s chart) but  failed to close above it.  I am closely watching for a high volume close of the QQQQ above the channel line, around 42.11.  I would then consider buying the QQQQ’s.

Gert:  Please get well soon; we miss you.

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