GMI:1; 10x more new lows than highs

The GMI is still one and the GMI-S is zero.  There were 557 new lows and 52 new highs on Monday in my universe of 4,000 stocks.  While 78-97% of the stocks in the major indexes advanced, only 60% of my universe of stocks rose, along with just 56% of the stocks in the twelve IBD100 stock lists I have been following for the past year. So the advance Monday occurred mainly in the stocks typified by the major index ETFs (SPY, DIA and QQQQ).  The Worden T2108 indicator is 18%, up from Friday’s extreme low of 14%.  Monday was the sixth day in the current QQQQ down-trend.  I continue to be short or in cash until the GMI should signal an up-trend.

See my disclaimers below.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.