Note that T2108 actually declined to 23% today. The bifurcated market continues.
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126 yearly new lows and 88 new highs, GMI= RED and Day 3 of $QQQ short term down-trend, but QQQ is short term oversold and may bounce Wednesday. Gas/Oil stocks are strong, see MPC and PSX. I go where the ATHs are.
12 of 27 stocks that reached ATHs on Tuesday were Oil & Gas related. Those are the only stocks I would trade now. Check out these weekly charts of MPC and PSX, as examples. MPC has almost doubled since its GLB in April. I go where multiple stocks in an industry are reaching ATHs.
PSX is another winner in the same industry. It had a GLB in July. Note how both are trending with their rising 4wk averages.
