The GMI and GMI-R are both zero again. There were 37 new highs and 117 new lows in my universe of 4,000 stocks on Tuesday. The Worden T2108 indicator is back to 26% The trend remains down and it is crucial to remain in cash or to be short. Fighting this down-trend is an experiment in masochism. Remember, contrary to the media pundits who want to scare us into holding stocks, when the real turn comes, there will be plenty of time to jump on for the ride. Meanwhile, Tuesday was the 53rd day of the current down-trend, and many bear markets have lasted 9-12 months.
Month: March 2008
GMI: 0; GMI-R: 2;
The GMI remains at zero, but the more sensitive GMI-R rose to two. There were 31 new highs and 124 new lows in my universe of 4,000 stocks on Tuesday. Tuesday was the 52nd day of the current QQQQ short term down-trend.
GMI: 0; GMI-R: 0; 51st day of QQQQ down-trend
The GMI and GMI-R are back to zero. DGLY broke down on Monday, showing how promising bases tend to fail in a down-trend. Monday was the 51st day of the current QQQQ short term down-trend.