GMI: 5, GMI-R: 9; Still cautious


The key to this market for me is whether AAPL and GOOG can go on to new highs.   (See daily chart of AAPL below.) Each fell from their peak on high volume last week after earnings were released and are now rebounding on lower volume.   I am cautiously awaiting the outcome.   Meanwhile, a lot of the key small cap tech stocks have broken their short term up-trends.   There were only 128 new 52 week highs in my universe of 4,000 stocks on Tuesday.

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