126 yearly new lows and 88 new highs, GMI= RED and Day 3 of $QQQ short term down-trend, but QQQ is short term oversold and may bounce Wednesday. Gas/Oil stocks are strong, see MPC and PSX. I go where the ATHs are.

@ 9:07 pm
GMI1/6
GMI-22/9
T210828%

12 of 27 stocks that reached ATHs on Tuesday were Oil & Gas related. Those are the only stocks I would trade now. Check out these weekly charts of MPC and PSX, as examples. MPC has almost doubled since its GLB in April. I go where multiple stocks in an industry are reaching  ATHs.

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PSX is another winner in the same industry. It had a GLB in July. Note how both are trending with their rising 4wk averages.

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GMI=1 and RED; Day 1 of $QQQ short term down-trend; 3 days in a row with more yearly lows than highs; only 21 stocks reached ATHs on Friday, QQQ now closed below 4wk avg. Be very careful.

@ 8:19 pm
GMI1/6
GMI-23/9
T210831%

If the GMI should register 0, I would exit the market in all of my accounts. Market will break out of this consolidation one way or the other, probably this week. Only oil and shipping related stocks have multiple stocks hitting ATHs. T2108 at 31% shows NYSE stocks are technically weak.

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