The GMI remains at 4 (of 6) and the GMI-R is at 7 (of 10). There were only 21 new highs and 41 new lows in my universe of 4,000 stocks on Tuesday. Tuesday was the 26th day of the current QQQQ short term up-trend. Holding QLD is a wonderful way to catch this up-trend. Since this up-trend began QLD has advanced by 11.5%, almost twice the 6.2% advance in the QQQQ. In addition, URBN, which I first wrote about on 4/7 at 32.54, broke out on Tuesday, closing at $34.64, an all-time high. I own URBN. Growth stocks are coming to life. Twelve stocks on the IBD100 stock lists I have monitored the past year hit a new high on Tuesday: MA, FLS, ICLR, URBN, WRNC, ISYS, HOS, BMI, GTLS, JST, NXY, SDA. This is a good place to look for leaders in the current rally.
Month: April 2008
GMI: 4; GMI-R: 8; 25th day of QQQQ short term up-trend; QLD and CMG
No changes in the GMI and GMI-R on Monday. There were 85 new highs and 35 new lows in my universe of 4,000 stocks on Monday. Monday was the 25th day in the QQQQ short term up-trend. I remain long in QLD. I also own puts on CMG.
GMI: 4; GMI-R: 8; 24th day of QQQQ short term up-trend
The GMI remains at 4 (of 6) and the GMI-R rose one, to 8 (of 10). Friday was the 24th day of the current QQQQ short term up-trend. 
The Worden T2108 Indicator is now at 74%, so the market pendulum is in high territory but can remain here for months. The general market trend is up, with the dollar gaining strength and gold weakening. I just found a new ETF, UUP, that one can use to go long the dollar.
I already own DZZ, the ultra short ETF for gold. All of my short term indicators for four key index ETF’s are now positive. Stocks I own or continue to watch include: URBN, ITRI, CPST, AAPL, RIMM and PRGO.