GMI: 0; GMI-R: 1; Worden T2108: 46%; 20th day of down-trend

The GMI remains zero, but the more sensitive GMI-R rose to 1 out of 10.  There were 29 new highs and 90 new lows in my universe of 4,000 stocks on Thursday.  The Worden T2108 indicator shows that 46% of NYSE stocks closed above their 40 day averages. This indicator is now up from a low of 18%  on January 22.  Still, tech stocks lag, with only 31% of the Nasdaq 100 stocks closing above their 30 day averages.  I remain mainly in cash, but vigilant for signs of a change in trend.  Thursday was the 20th day in the current QQQQ short term down-trend.

Leave a Reply

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