GMI: +1; Market insanity…

Gmi1020My market indicators weakened Thursday, but remained above Tuesday’s lows.   This has been a good time to be off the roller-coaster. Are we at the point when one stock (GOOG) determines the fate of the market?   Market insanity prevails.

The GMI is still at +1. One third of the QQQQ stocks rose on Thursday, along with 17% of the S&P 500 and Dow 30 stocks.   There were 66 new yearly highs and 135 new lows in my universe of 4,000 stocks.   Thursday was day 12 (D-12) in the current QQQQ down-trend.   Fasten your seat-belts Friday.

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