Posted Tuesday, June 24, 2008 @ 8:06 pm by Dr. Wish
GMI: 1; GMI-R: 1; 425 new lows; daily and weekly QQQQ trends down
The GMI and GMI-R are each 1. There were 51 new highs and 425 new lows in my universe of 4,000 stocks on Tuesday. Only 16% of the Nasdaq 100 stocks closed above their 30 day averages, the lowest percentage since March 10. The Worden T2108 indicator is now at 19%, getting close to bottom area. After 4 down days, the QQQQ will most likely bounce on Wednesday. This may be an opportunity to short the market (or buy QID) at higher levels. The daily and weekly trends of the QQQQ are now down.
Post Tags:
Add a Comment
