GMI: 6; new QQQ short term up-trend; RWB stock: OVTI


By my count, Wednesday was the first day of a new QQQ short term up-trend, within a longer term up-trend.   I am now slowly wading into QLD and will add to my position as long as the new up-trend continues.   I will be more certain of the staying power of this up-trend after it reaches its fifth day. There were 445 new 52 week highs in my universe of 4,000 stocks on Wednesday.   Clearly, new highs are back in style and it makes sense to focus on strong growth stocks again. For example, OVTI is an RWB rocket stock that just reached an all-time high. Click on weekly chart to enlarge.

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