Month: April 2006

The GMI declined on Tuesday.  Break out stocks are failing.  Only 41% of the stocks that hit a new high ten days ago closed higher Tuesday than they did ten days earlier.  The Daily SPY index turned negative and the GMI-S fell to 38.  Between 13-23% of the stocks in the QQQQ, DIA and SPY rose on Tuesday.  Only the majority (75%) of the short term indicators for the QQQQ remain positive.  While the short term up trend in the QQQQ is still intact, I am raising stops and becoming defensive………

Please send your comments to:  silentknight@wishingwealthblog.com.

The GMI stayed at +6 as stocks tread water.  41% of the Nasdaq 100 stocks rose on Monday along with 48% of S&P stocks and 53% of Dow 30 stocks. There were minor changes in my indicators.  Monday was the tenth day of the QQQQ short term up trend (U-10). We need to wait to see whether the current weakness is just a pause or the start of a larger decline.  How stocks react to good earnings releases should help us to divine the market trend…..

Please send your comments to:  silentknight@wishingwealthblog.com.

The GMI remains at +6, but the large cap stocks have weakened, at least in the short term.  The GMI-S has fallen to 50, primarily because the Dow 30  and the S&P 500 indexes have declined.  Only 20% of the Nasdaq 100 stocks rose on Friday along with just 13% of the S&P 500 stocks and 10%  of the Dow 30 stocks.  Friday was the ninth day in the QQQQ short term up trend (U-9).  Most of the indicators in the table declined.  But the QQQQ remains in a nice up trend, having completed its second consecutive week above its 10 week moving average. 

Please send your comments to:  silentknight@wishingwealthblog.com.