GMI: 6; IBD Meet-up not bullish; IBD 100 new highs

The GMI remains at 6, but the QQQQ was the weakest index Wednesday.  53% of the Dow 30 stocks advanced along with 46% of the S&P 500 stocks but only 38% of the Nasdaq 100 stocks.  Gmi0927 But there were 202 new highs in my universe of 4,000 stocks and Wednesday was the 28th day of the current QQQQ up-trend.  Only 44% (4/9) of my IBD meet-up members were optimistic tonight about the next few months, suggesting to me that this market will be higher come November.  66%of the IBD 100 stocks from 5/16 and 75% of the IBD 100 list from 8/14 closed higher on Wednesday, suggesting that IBD type growth stocks were stronger on Wednesday.  Seven stocks from the list on 8/14 hit new highs:  FMD, TNL, NITE, GYMB, TWGP, GILD and CTSH.  Some of these stocks might lead a year end up-trend…

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