The GMI is still 6. Only 42% of the Nasdaq 100 stocks advanced on Tuesday, along with 45% of the S&P 500 stocks and 37% of the Dow 30 stocks. Still, there were 231 new highs and only 20 new lows in my universe of 4,000 stocks. Only 64% of the Nasdaq 100 stocks closed above their 30 day average, down from 88% on 10/16. Only 40% of the IBD 100 stocks from 10/16 advanced on Tuesday and only 9 hit a new high–COGO,CELG,BLKB,AXR, JLL, HRT, BLUD, NVEC,
IAAC. Tuesday was the 52nd day of the current QQQQ up-trend. During that time the QQQQ has risen 10.4% but the ETF that approximates twice its movement advanced 19.8%. Once the up-trend was established, it became very comfortable for me to just ride the QLD.