GMI: +4; Housing and utilities weak; in May–go away!

Gmi0413 Last week ended with the GMI still at +4.  Between 59-66% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes rose, but there were only 79 new yearly highs in my universe of 4,000 stocks.  Only 32% of stocks are in a short term up trend.  The QQQQ is in the thirteenth day of a short term up trend (U-13).  With long term interest rates rising, the utilities and housing stocks have been on a steady decline.  Shorting them has yielded easy profits. (No pun intended!)  With May rapidly approaching, it is time to watch for the customary seasonal top after earnings are out.  In May, go away…

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