Archive for December, 2008
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The markets are teetering on the edge of support again. It will be interesting to see if the QQQQ can hold through the week. Meanwhile, there were 8 new highs and 60 new lows in my universe of 4,000 stocks on Monday. Gold (GLD) continues to rise as the dollar weakens. Silver (SLV) appears to [...]
The QQQQ short term up-trend is now in its 4th day. However, there were only 4 new highs and 100 new lows in my universe of 4,000 stocks on Friday. Still, 58% of the Nasdaq100 stocks closed above their 30 day averages. The GMI closed at 2 (of 6) and the more sensitive GMI-R is [...]
The short term uptrend remains intact, with the GMI at 2 (of 6) and the GMI-R at 4 (of 10). The Worden T2108 indicator is at 43%, the highest since last September and well out of bottom territory. Tops often occur when the T2108 is at 70% or better. Another sign of strength is that [...]
The GMI remains at 2 (of 6) and the more sensitive GMI-R is at 4 (of 10). There were 3 new highs and 40 new lows in my universe of 4,000 stocks on Tuesday. Tuesday was the first day of a QQQQ short term up-trend. The QQQQ is sitting on support and we will have [...]
The GMI has risen to 2 (of 6) and the more sensitive GMI-R to 4 (of 10). Monday was the 69th day of the current QQQQ short term down-trend–and if the QQQQ holds today, it will be the start of a new short term up-trend. While my longer term indicators remain in a down-trend, this [...]
GMI and GMI-R both back to zero. There were 9 new highs and 121 new lows in my universe of 4,000 stocks on Thursday. T2108 is back to 16%. In this volatile market, I remain mainly in cash.
The GMI remains at zero (of 6), and the more sensitive GMI-R is at one (of 10). 36% of the Nasdaq 100 stocks are now above their 30 day averages, the highest percentage since September 3rd. This is a time to watch patiently for a sign of a change in trend. The indexes are gaining [...]
The GMI remains at zero, but the GMI-R rose to one. There were 6 new highs (EBS, LHCG, CBST, UTI, TLH and OSIR) and 92 new lows in my universe of 4,000 stocks on Tuesday. EBS continues to show outstanding strength, and the other 5 new highs also bear watching. Some look very promising. Monday's [...]
