The GMI and GMI-R are both back to zero. There were 40 new 52 week highs and 90 new lows in my universe of 4,000 stocks on Friday. The QQQQ bounced down off of resistance. Time to be defensive and mainly in cash.
Month: August 2008
GMI: 1; GMI-R: 3; 36th day of QQQQ down-trend; ALNY
The GMI fell back to one (of 6) and the GMI-R to 3 (of 10). There were 53 new highs and 63 new lows in my universe of 4,000 stocks on Wednesday. The QQQQ is right on resistance. We need to wait to see if it can break through. ALNY, one of Judy’s favorites, rose 5% on Wednesday. I own a few shares of ALNY.