The GMI remains at +6 and market internals are strong. There were 216 new highs and only 77 new lows on Thursday in my universe of 4,000 stocks. 81% of the Nasdaq 100 stocks, 80% of the S&P 500 stocks and 90% of the Dow 30 stocks rose. More than one half of stocks are in a short term up trend and 54% are above their 10 week averages (compared with 20% on October 18). One in five stocks (21%) are now within 5% of their 52 week highs. Thursday was the eighth day (U-8) of the QQQQ up-trend.
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