Month: November 2008

Again, there were no changes in my general market indexes.  The major indexes bounced down off of  their declining primary moving averages.  Once this happens, it is a sign that the short term rally is over and the decline will continue, unless we get a close above these moving averages today.  The key to this market is the quality of the next decline and whether the bottom will hold. If it doesn't, the panic selling may return. There were only 3 new highs and 50 new lows in my universe of 4,000 stocks on Wednesday.  The T2108 is back to 15%.  The place to be for me now is in cash or a little short.

No major changes in my general market indicators.  However, the Worden T2108 indicator climbed to 20%, the highest since September 26.  There were 9 new highs and 34 new lows in my universe of 4,000 stocks on Tuesday.

The GMI remains at zero (of 6), and the GMI-R at 2 (of 10).   There were 12 new highs and 27 new lows in my universe of 4,000 stocks on Monday.   91% of the NASDAQ 100 and S&P500 stocks have a MACD above their signal line.   It remains to be seen whether this short term bounce can reverse the longer term trends.   After a major market decline, the new high list is the place to identify new market leaders.   I especially like stocks at all-time highs. The 9 stocks hitting a new high on Monday and also near their all-time high are:   LG, SPTN, AFAM, PETS, AVAV, STRA, ZEP, EBS, ALGT. Any stock that can come through the recent   market debacle and trade near its all-time may be a leader in any new bull market.   Stay tuned…