Posted Wednesday, June 18, 2008 @ 11:01 pm by Dr. Wish
GMI: 2; GMI-R: 3; Conditions deteriorating
The GMI fell to 2 (of 6) and the GMI-R to 3 (of 10). Wednesday was the 6th day of the current QQQQ down-trend. There were 84 new highs and 275 new lows in my universe of 4,000 stocks on Wednesday. The Worden T2108 indicator is back to 29%, still above bottom territory (below 20%). After option expiration on Friday, we may see the market decline accelerate. It is time to be hedged or in cash or short.
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