Dr. Wish

The GMI is still 5 and the QQQQ is in its third day of a new up-trend (U-3).  There were 284 new highs in my universe of 4,000 stocks on Thursday.  76-83% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Thursday.  72% of the Nasdaq 100 stocks closed above their 30 day average, up from 32% on December 22.  The leaders, GOOG and AAPL, have come back, and ATHR (see post on 1/10) is gaining strength. I own some of these stocks.

The GMI rose to 5 and the GMI-S to 56.  It looks like this is the 2nd day of the new QQQQ up-trend.  There were 138 new 52 week highs in my universe of 4,000 stocks.  69% of the Nasdaq 100 stocks rose along with 59% of the S&P 500 stocks and 57% of the Dow 30 stocks.  I am accumulating QLD again as the QQQQ index rises. A lot of stocks are bouncing off of support. 

The GMI rose to 3, and there were 146 new 52 week highs in my universe of 4,000 stocks on Tuesday. The QQQQ strengthened and is now in the first day of an up-trend (U-1).  While AAPL and GOOG rose, RIMM fell.  This market continues to be mixed.  56-61% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes rose on Tuesday. The GMI-S rose to 38, as almost all of the short term indicators for the QQQQ are now positive.

Recently, ATHR caught my eye as a possible cup with handle pattern. Here is a weekly chart of the stock (I own it).  A break above the top of the handle, around 25, on high volume would lead me to accumulate this stock. Of course I would hope that the GMI is a little stronger when that happens.  Break-outs tend to succeed when the GMI is strong.

Please note the disclaimers below.