GMI: 4; GMI-R: 7; mainly in cash

The GMI fell to 4 (of 6) and the GMI-R to 70%.  There were 98 new highs and 190 new lows in my universe of 4,000 stocks on Wednesday. Gmi1024  The QQQQ trend remains up in the face of weakness in the DIA, SPY and IJR.  Wednesday was the 39th day in the current QQQQ short term up-trend.  However, only 48% of the Nasdaq 100 stocks closed above their 30 day averages and only 32% of them rose on Wednesday.  With the GMI at 4 and the market so split, I am content to remain mainly in cash for a few more days.


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