Posted Wednesday, September 24, 2008 @ 12:01 am by Dr. Wish
GMI: 0; GMI-R: 0; 16th day of QQQQ down-trend; Worden T2108: 22%
The GMI and GMI-R remain at zero. Only 10 new highs and 66 new lows in my universe of 4,000 stocks on Tuesday. This is not a market for buying stocks at new highs or at breakouts. The Worden T2108 is now at 22%, a level where a bottom could occur. Nevertheless, the major indexes remain in confirmed down-trends. It is nice to be on the sidelines in cash.
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