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Today was a quiet day. The GMI remains at +6 and there were 211 new highs and only 15 new lows. However, only 33-37% of the Nasdaq 100, S&P 500 and Dow 30 stocks rose today. The good news is that all of these indexes closed above their 10 day averages and their up trends remain intact. We are in the 31st day of the rally (U-31) and 80% of the nearly 4,000 stocks in my universe closed above their 10 week average. Some of my stocks actually climbed today (BOOM, SHLD, GOOG, NDAQ). I have no wise words for tonight other than that I will stay the course and see if we get the highly anticipated end-of-the-month/quarter rally.
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Please remember that the stock market is a risky place, especially now. I am not providing recommendations for you to follow. My goal is to share tools and methods that I have used over the past 40 years of trading, so that you may learn from them and adapt them to your trading style and needs. While I do my best, I do not guarantee the accuracy of any statistics computed or any resources linked to my blog. Please consult with your financial adviser and a mental health practitioner before you enter the stock market, and please do not take unaffordable risks in the current market environment. See the About section for more statements designed to protect you (and me) as you navigate this market. Past performance does not guarantee future results, but I would rather learn from a former winner than a loser.