GMI: 5; Stocks bounce off support

The GMI is still 5, but this time because there were only 71 new yearly highs in my universe of 4,000 stocks.  Gmi1128_1 44% of the Nasdaq 100 stocks advanced on Tuesday, along with 54% of the S&P 500 stocks and 63% of the Dow 30 stocks.  63% of the Nasdaq 100 stocks closed above their 30 day averages.  Many stocks and market indexes bounced off of the important support levels I monitor.  It is very important that they hold these levels tomorrow.  Declines below these levels could cause the GMI to turn negative. Tuesday was the 71st day of the current QQQQ up-trend.


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