Wishing Wealth Blog

The GMI stayed at 5 today, but the GMI-S rose to 75.  75-77% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes rose on Wednesday.  Wednesday was the 5th day in the current QQQQ down-trend.  Another up day in the QQQQ will turn that daily indicator positive. 56% of the Nasdaq 100 stocks are now above their 30 day averages.  However, if GOOG cannot rise after the good earnings it released Wednesday afternoon, it will be another sign of weakness in the leaders.  RIMM and AAPL have already rolled over.

See my disclaimers at the bottom of my previous post.

The GMI is still 5.  My indicators are resting on support and could go either way.  The 10, 30 and 50 day averages for the QQQQ are almost identical, indicating little change over these time periods.  From 11/22 through Tuesday’s close, the QQQQ has declined 2.46%, and in that time only 36% of the Nasdaq 100 stocks have risen more than 1%.  We should not bet against the market trend!  When the index breaks from this long plateau, it will probably be a large move.  Tuesday was the 4th day in the current QQQQ down-trend.

See my disclaimers at the bottom of my prior post.

The GMI is still at 5.  50-59% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Monday.  The GMI-S fell 6, as one of the four short term indicators for  SPY turned negative.  Note, however, that all four indicators for IJR (small-cap stocks) remained positive.  Monday was the 3rd day (D-3) in the current QQQQ down-trend.