The GMI is still zero and the GMI-R is one. There were 45 new highs and 64 new lows in my universe of 4,000 stocks on Thursday. The Worden T2108 indicator is now at 19%, up from a low of 8%. Thursday was the 26th day of the current QQQQ down-trend.
Month: July 2008
GMI: 0; GMI-R: 1; 25th day of QQQQ down-trend
The GMI is zero and the GMI-R is one. There were 34 new highs and 223 new lows in my universe of 4,000 stocks on Wednesday. The Worden T2108 indicator is now up to 14% from 8% last week. This amazing indicator has again shown us when the market has swung to an extreme on the down side. It has a long way to go to overbought territory, around 80%. The QQQQ also has a long way to go to begin an up-trend. For now, it remains in a solid down-trend.
GMI: 0; GMI-R: 0; 988 new lows, most since January 22
The GMI and GMI-R remain at zero. There were 36 new highs and 988 new lows in my universe of 4,000 stocks on Tuesday. The last time there were more new highs was last January 22, when there were 1,453 new lows. The Worden T2108 Indicator is at 12%, still above the extreme low of 8% reached last week. Tuesday was the 24th day of the current QQQQ down-trend. Time to be in gold, short, or in cash.