The GMI is 6. 
All index trends in table remain up.
Month: February 2007
GMI: 6; ATHR, NUAN and QLD
The GMI remains at 6. There were 485 new highs in my universe of 4,000 stocks on Tuesday, the most since December 5. 
All indexes I monitor are in up-trends. Tuesday was the 4th day in the current QQQQ up-trend, which appears to be breaking out of a multi-week consolidation. ATHR and NUAN, stocks with former cup with handle bases, appear to be moving up. Buying QLD again.
See my disclaimers at the bottom of yesterday’s post.
GMI: 6; GMI-S: 100; CEPH, GLD, NUAN
The GMI and GMI-S are all at their maximum values. 65% of the Nasdaq 100 stocks closed above their 30 day averages. 64% of the IBD 100 list from 2/5 rose on Friday and 20% of them hit new highs. There were 256 new highs in my universe of 4,000 stocks on Friday. 
Friday was the third day in the current QQQQ up-trend. The SPY has closed above its 10 week average for 29 straight weeks. With so many people skeptical of this rise, this up-trend may have further to go. CEPH still looks like a cup with handle in the making. GLD (pegged to the price of gold) also appears to be in an up-trend. NUAN, a cup with handle break-out, also looks strong.
