The GMI rose to +4 while the underlying market indicators strengthened. There were 251 new highs in my universe of 4,000 stocks and 56% of the 172 stocks that hit a new high 10 days ago closed higher Tuesday than they closed 10 days earlier. 31% of stocks are now in a short term up trend, up from 28%, and 71% of the yearly doublers closed above their 30 day averages. The leading stocks were strong yesterday. 65% of stocks closed above their 10 week averages. The QQQQ is sitting just below its 30 day average. We will need a few more days to determine whether a new up trend has begun. Tuesday was the ninth day (D-9) of the current QQQQ down trend.
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