GMI: 6; IBD100 stocks outperform Nasdaq 100 stocks

The GMI is still 6 and there were 410 new highs in my universe of 4,000 stocks on Monday.  54% of the Nasdaq 100 stocks advanced, along with 65% of the S&P 500 stocks and 57% of the Dow 30 stocks.  Monday was the 41st day in the current QQQQ up-trend.  What was striking Monday was the stronger performance of the IBD 100 stocks, compared with the Nasdaq 100 stocks.  80%-90% of the stocks in four recent IBD 100 lists advanced, compared with only 54% of the Nasdaq 100 stocks. Three of the four IBD 100 lists had more new highs on Monday than the Nasdaq 100 stocks.  These differences suggest to me that the market leadership is moving towards stocks with great fundamentals and technical action, as defined by IBD. ….

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