The GMI remains at +6 but the Daily QQQQ Index is close to turning negative again. There were only 170 new highs in my universe of 4,000 stocks and 54 new lows. The last time we had more new lows was on December 21. Only 44% of stocks remain in a short term up trend. Only 20% of the Nasda 100 stocks rose on Monday, along with 22% of the S&P 500 stocks and 27% of the Dow 30 stocks. This was the third day in the QQQQ short term up trend (U-3). One more down day will change the trend to down………….
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