Posted Tuesday, September 12, 2006 @ 12:01 am by Dr. Wish
GMI: 4; Techs back from the edge
The GMI remains at 4, and the techs strengthened on Monday. There were more new highs than lows (86 vs. 54) in my universe of 4,000 stocks. 71% of the Nasdaq 100 stocks rose, compared with 
64% of the S&P 500 stocks and 54% of my universe of stocks. Clearly, tech stocks represented by the QQQQ were stronger on Monday. The QQQQ up-trend is in its sixteenth day. The GMI-S has risen to 81, as all four short term indicators of the QQQQ and DIA are positive. A few more up days for the QQQQ will convince me that the up-trend will continue and I will continue to accumulate QLD……….
Please send your comments to: ewish@comcast.net.
Comments RSS You can skip to the end and leave a response. Pinging is currently not allowed.
Post Tags:
Add a Comment
