Dr. Wish

The GMI and GMI-R are back to their minimum readings.  There were 36 new highs and 58 new lows in my universe of 4,000 stocks on Friday. The Worden T2108 Indicator is at 19%, up from an extreme low of 8% on July 7.   Interesting, 68%  of the Nasdaq 100 stocks are now above their MACD signal  line, a sign of strength.  Friday was the 27th day of the current QQQQ downtrend (D-27).  Nevertheless, with all of the GMI indicators negative (click on table to enlarge) the down-trend remains intact. 

The GMI is still zero and the GMI-R is one.  There were 45 new highs and 64 new lows in my universe of 4,000 stocks on Thursday. The Worden T2108 indicator is now at 19%, up from a low of 8%.  Thursday was the 26th day of the current QQQQ down-trend. 

The GMI is zero and the GMI-R is one.  There were 34 new highs and 223 new lows in my universe of 4,000 stocks on Wednesday.  The Worden T2108 indicator is now up to 14% from 8% last week.  This amazing indicator has again shown us when the market has swung to an extreme on the down side. It has a long way to go to overbought territory, around 80%. The QQQQ also has a long way to go to begin an up-trend. For now, it remains in a solid down-trend.