Posted Wednesday, January 7, 2009 @ 12:01 am by Dr. Wish
GMI: 2; GMI-R: 6; 19th day of QQQQ short term up-trend: T2108: 89%
The QQQQ short term up-trend continued and completed its 19th day on Tuesday. The GMI and GMI-R remain unchanged, at 2 and 6, respectively. A note of caution, however, is that the Worden T2108 Indicator hit 89%, about as high as it gets during an up-trend. This means that 89% of the NYSE stocks closed above their 40 day averages. T2108 at this level does not signal an immediate decline, it can remain at 80-90% for several months. Seven stocks on my IBD100 lists the past year hit a new high on Tuesday: TWGP,VSEC,NPK,BKR,AMSF,AVAV and MYGN.
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Mr Risk added these pithy words on Wed, 1-7-09 at 4:10 pmThese were also stocks that buck the general downtrend today to close higher. Important to note relative strength during bad days for the market.
LPHI
GXDX
EEI
AFAM
EBS
THOR
LHCG
TMP
DSCP
ORH
ALGT
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