GMI: 5 GMI-S: 81;

The GMI declined to 5, as only 63 of the 142 stocks in my universe that hit a new high 10 days ago closed higher than they did 10 days ago.   Stocks hitting new highs should be moving up in a strong market.   Gmi1113 When breakouts fail it can be an early sign of a weakening market.   However, there were 290 new highs in my universe of 4,000 stocks on Monday.   60-69% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced.   Monday was the 61st day in the current QQQQ up-trend.   The GMI-S, a measure of short term strength in four indexes, rose to 81 because all 4 indicators for the QQQQ are now positive.   The Nasdaq 100 stocks are leading the market up.   66% of the IBD 100 stocks from 10/16 rose and 11 stocks hit a new high (PRFT,SIM,DRIV,PHLY,HXM,INFY,AXR,VIP,ICLR,ADS,AEOS).

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