Posted Thursday, July 17, 2008 @ 12:01 am by Dr. Wish
GMI: 0; GMI-R: 1; 25th day of QQQQ down-trend
The GMI is zero and the GMI-R is one. There were 34 new highs and 223 new lows in my universe of 4,000 stocks on Wednesday. The Worden T2108 indicator is now up to 14% from 8% last week. This amazing indicator has again shown us when the market has swung to an extreme on the down side. It has a long way to go to overbought territory, around 80%. The QQQQ also has a long way to go to begin an up-trend. For now, it remains in a solid down-trend.
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