GMI falls to 3; QQQ short term up-trend reaches day 71


The GMI and GMI-2 each registered 3 (out of 6) on Monday.   The QQQ is holding up much more than the SPY and DIA, both of which have closed below their 30 day averages. The GMI is weighted more toward the tech stocks measured by the QQQ and the GMI is not in any imminent danger of flashing a sell signal of two consecutive days of 2 or less. The Worden T2108 indicator fell to 32%, still in neutral territory. It will be interesting to see if we get a   bounce in the indexes as earnings season begins.

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