GMI: 5; GMI-S 69; IBD 100 stocks underperform again

The GMI is still at 5, but the GMI-S fell to 69.  There was considerable weakness in the QQQQ and IJR short term indicators.  Gmi1002 But there were 114 new highs in my universe of 4,000 stocks.  26-43% of the stocks in the Nasdaq 100, S&P500 and Dow 30 stocks rose on Monday.  Only 27 of the 100 stocks in the new IBD 100 list posted on 10/2 advanced.  So again the IBD 100 stocks underperformed the stocks in the major indexes.  Seven of the IBD 100 stocks did hit a new high on Monday: TNL, GYMB, PHLY, ENR, LIFC, PRFT, and SYX. Monday was the 31st day in the QQQQ up-trend, which is still intact.  Hopefully, a weak Ocotber will set up a nice end of year rally.

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