GMI: 6; Too many bulls?

The GMI is back to 6.  76% of the Nasdaq 100 stocks rose on Wednesday, along with 82% of the S&P 500 stocks and 83% of the Dow 30 stocks.   There were 238 new yearly highs in my  Gmi1129universe of 4,000 stocks.  Wednesday was the 72nd day of the current QQQQ up-trend.  One thing I noticed today in IBD bothers me a lot about this market.  The Investors Intelligence poll shows 57.5% of investment advisors bullish and only 22.3% bearish.  Such extreme bullishness is typical of markets that are topping out…


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