The GMI is still firmly at +6, although the QQQQ stocks were a little less likely to rise Tuesday. Only 51% of the Nasdaq 100 stocks advanced, compared with 64% of the S&P 500 stocks and 67% of the Dow 30 stocks. Still, 57% of the 4,000 stocks I follow are in a short term up-trend and 65% are now above their 10 week averages. There were 350 new highs and 80% of the 94 stocks that hit a new high ten days ago closed higher Tuesday than they closed ten days earlier. Tuesday was the sixteenth day of the QQQQ up-trend (U-16). 26% of stocks are within 5% of their 52 week highs. Enjoy this up-trend!
I wrote a piece about I-bonds several months ago, suggesting that these bonds were a good way to grow savings with protection from inflation. Now it appears there have been some changes in the way the base for these bonds is calculated that can make them inferior investments. Check out this recent article by Chuck Jaffe.
NOTE: A NEW SECTION TO THE BOTTOM RIGHT PROVIDES LINKS TO MY FAVORITE PRIOR POSTS. THESE INCLUDE MY STRATEGY POSTS, DEFINITIONS OF THE GMI COMPONENTS, AND MY ANALYSIS OF WHY THE TRADING TECHNIQUES OF THE GREAT NICOLAS DARVAS WORK BEST DURING BULL MARKETS AT ALL-TIME HIGHS.
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