There were 58 new highs and 47 new lows in my universe of 4,000 stocks on Tuesday. Since this new QQQQ up-trend began (by my definition) 5 days ago, the QQQQ has risen 2.5% and 74% of the Nasdaq 100 stocks have advanced; 22% rose by more than 5%. The QLD has risen 5.2%. Staying on the side of the market trend greatly enhances the probability of profitable trading.
Month: August 2008
GMI: 5; GMI-R: 9; Day four of new QQQQ up-trend; buying QLD
The GMI is now 5 (of 6) and the GMI-R is 9 (of 10). There were 134 new highs and 52 new lows in my universe of 4,000 stocks on Monday. June 19 was the last time there were more than 100 new highs (102). Monday was the fourth day of the current QQQQ up-trend. I am accumulating QLD and other stocks.
GMI: 4; GMI-R: 8; 3rd day of QQQQ up-trend
The GMI remains at 4 (of 6) and the more sensitive GMI-R rose to 8 (of 10). There were 80 new highs and 72 new lows in my universe of 4,000 stocks on Friday. The Worden T2108 indicator is now at 50%. The QQQQ is back above its 10 week average and I am adding stocks and QLD. Friday was the third day of the new QQQQ up-trend. The prior down-trend lasted 39 days.