GMI: 0; GMI-R: 0; 988 new lows, most since January 22
The GMI and GMI-R remain at zero. There were 36 new highs and 988 new lows in my universe of 4,000 stocks on Tuesday. The last time there were more new highs was last January 22, when there were 1,453 new lows. The Worden T2108 Indicator is at 12%, still above the extreme low of 8% reached last week. Tuesday was the 24th day of the current QQQQ down-trend. Time to be in gold, short, or in cash.
Comments ( 1 Comment )
David Strick added these pithy words on Wed, 7-16-08 at 9:13 amThanks for sharing the numbers. I check your blog daily. Was wondering if you could post the intraday low of the T2108? Is it a number that is arrived at the end of the trading day or if it functions intraday? I’ve been looking for an indicator that functions close to the T2108 such as:
http://stockcharts.com/charts/gallery.html?%24nya50r
There are a few but they most are end of day. Hey, thanks for your blog, Dave
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