GMI: 6; GMI-S: 63; 81st day of QQQQ up-trend; 59% of stocks declined since peak

The GMI is back to 6 but the GMI-S slipped to 63. Only 31% of the Nasdaq 100 stocks rose on Tuesday, along with 45% of the S&P 500 stocks and 43% of the Dow 30 stocks. Only 21 of the IBD 100 stocks from 11/20 advanced and 13 of them hit a new 52 week high.  Just 58% of the Nasdaq 100 stocks closed higher than their 30 day averages, down from 74% on November 24.  This market has still not tipped its hand.  However, the fact that the market leaders (AAPL, GOOG and RIMM) have all closed below their 30 day averages is a bad omen for the general market. Since the QQQQ peaked on 11/24, that index has fallen 1.9% and 59% of the Nasdaq 100 stocks have declined.

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