There were 42 new highs and 114 new lows in my universe of 4,000 stocks on Wednesday. The low number of new highs caused the GMI to decline to 4 (of 6) and the GMI-R to 7 (of 10). Still, 71% of the Nasdaq 100 stocks closed above their 30 day averages. ITRI, a Judy’s Pick, rose 5% to $105.21. I continue to accumulate QLD and to write covered calls.
GMI: 5; GMI-R: 8; 21st day of QQQQ short term up-trend
The GMI remains at 5 (of 6) but the GMI-R fell one to 8 (of 10). This is because there were more new lows than highs (131 vs. 111) in my universe of 4,000 stocks on Tuesday. Tuesday was the 21st day in the current QQQQ short term up-trend. I continue to hold QLD and to write calls on IBD 100 stocks. CPST, a Judy’s Pick, continues to out-perform the market.
GMI: 5; GMI-R: 9; 20th day of QQQQ short term up-trend
The GMI and GMI-R remain at 5 (of 6) and 9 (of 10) respectively. There were 132 new highs and 49 new lows in my universe of 4,000 stocks on Monday. I am accumulating QLD and writing calls on IBD 100 stocks. Monday was the 20th day of the QQQQ short term up-trend.