The GMI remains at +1, and there were only minor changes in my indicators on Tuesday. Between 20-24% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced. There were 40 new highs and 141 new lows in my universe of 4,000 stocks. There were only 31 successful 10 day new highs-stocks that hit a new high 10 days ago and that closed higher Tuesday than 10 days earlier. Only 8% of stocks are in short term up-trends. 16% of stocks are within 5% of hitting new lows, compared to 7% that are near their new highs. Tuesday was the tenth day (D-10) in the QQQQ decline. I am 100% in cash.
Please send me your feedback at: email@example.com.