The GMI rebounded to +5 on Wednesday. There were 125 new highs in my universe of 4,000 stocks and 56% successful ten day highs. The Daily QQQQ Index remains negative, however. Between 60-63% of the Nasdaq 100, S&P 500 and Dow 30 stocks advanced on Wednesday. Only 33% of stocks are in a short term up trend, but other indicators were stronger. Wednesday was the 2nd day in the QQQQ down trend (D-2). I remain in cash and on the side lines.
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