My GMI sign post to the right may be wrong. The GMI went to a Buy at the close of July 14. The futures (light blue horizontal arrow on chart) suggest that QQQ will open around the top BB today. About 40% of the Nasdaq 100 stocks now have an over-bought stochastics. This bounce has been very rapid, up 4% in 5 days–unsustainable! Remember, the market always falls faster than it rises. A break to new all-time highs followed by a reversal would be a significant sign of a major top. IBD still sees market uptrend under pressure.
