GMI: 6; GMI-R: 90%; Split market

The GMI remains at 6 and the GMI-R fell one, to 9 (90%) because there were more new lows than highs in my universe of 4,000 stocks on Thursday.  Remember, the GMI tracks the Nasdaq 100 stocks most closely.  We have had a miserable performance in the Dow 30 S&P 500 and SmallCap stocks and still have the GMI remain strong because the Nasdaq 100 techs stocks are outperforming these other stocks.  How long this schizophrenic, split personality of a market can last is anyone’s guess.  For now, the Nasdaq 100 tech stocks remain stronger  and are in the 45th day of their short term up-trend.  So, I retain the QLD  and my covered call positions…….

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