The GMI declined to +2 on Tuesday. This is because there were just fewer than 100 new highs (97) and there were not enough (just 16) successful 10 day new highs–stocks that hit a 52 week high 10 days ago and closed higher on Tuesday than they did 10 days earlier. 42% of the Nasdaq 100 stocks advanced on Tuesday, compared with 34% of the S&P 500 stocks and 50% of the Dow 30 stocks. This retracement was to be expected, given the preponderance of gainers on Monday. 
The GMI reflects strength in the QQQQ, which is in the second day of its new up-trend (U-2). The percentage of stocks in my universe of 4,000 that closed above their 10 week averages declined two, but the percentage in a short term up-trend increased by four. The percentage of stocks that have doubled in the past year and are above their 30 day averages declined two percentage points. About an equal percentage of stocks (12%/13%) are within 5% of their yearly high or yearly low.
I remain cautiously bullish as long as the QQQQ remains above its 30 day average. There are plenty of interesting stocks flexing their muscles. Check out: NTRI, IRIS, KNDL, TIE, ADSK, NDAQ, AAPL, VIVO. These are not recommendations, only a starting point for research and study.
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