GMI: 5; AAPL and GOOG weak

The GMI fell to 5 on Wednesday.  Gmi0117 Only 39% of the Nasdaq 100 stocks rose, compared with 50-53% of the S&P 500 and Dow 30 stocks.  Thursday was the sixth day of the current QQQQ up-trend.  Both AAPL and GOOG have been weak, not a good sign.  But the trend of the QQQQ stocks remains up for now.

Blogdisclaimer_2

GMI: 6; GMI-S: 88; 75% cash

The GMI is still at 6 and the GMI-S rose to 88.  Gmi0116_3 All of my short term indicators for DIA, QQQQ and SPY are positive. Tuesday was the 5th day in the current QQQQ up-trend. I hold only long positions and am about 75% cash as I wait to see if this up-trend continues. See disclaimers at the bottom of my prior post.

GMI: 6; GMI-S: 75; Brokers strong; LEH- cup with handle?

The GMI is back to a maximum of 6 and the GMI-S is 75.  Stocks are bouncing off of support all over.  Gmi1012_3 There were 263 new 52 week highs in my universe of 4,000 stocks on Friday.  Friday was the 4th day in the current QQQQ up-trend. I am buying the ultra QQQQ ETF, QLD, again.  GOOG and AAPL also are gaining strength along with ATHR.  (I own these.)

The brokerage stocks are climbing again.  I mentioned quite some time ago that in a rising market, brokers must do well as trading volume tends to rise. Thus, the U.S. brokerage ETF, IAI, rose 6% last week. Leh0112  Brokers that appear to be in up-trends include:  MER, GS, BSC, MS, SCHW, SEIC, to name a few. It looks like LEH has just broken out of a cup with handle base pattern. Strength in the brokers suggests good earnings to come and a strong market.

Blogdisclaimer_1