The GMI returned to the maximum +6 on Monday. There were 241 new highs in my universe of 4,000 stocks and 105 10 day successful new highs (stocks that hit a new high 10 days ago and closed higher Monday than ten days earlier). 57% of the Nasdaq 100 stocks advanced on Monday, along with 50% of the S&P 500 stocks and 47% of the Dow 30 stocks. The Dow 30 stocks continue to lag the others. One half of stocks are in a short term up trend and 21% of stocks that have doubled hit a new high on Monday. 84% of doublers remain above their 30 day averages and 72% closed above their 10 week averages. The rally is still on track and is in its 29th day. The leaders are holding up well. Check out HANS, AAPL, GOOG, NTRI and CUTR………………………
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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