Well, I told you that in the past that when I became so frustrated with my trading that I withdrew from the market, we were generally near a short term bottom in the market. So, thank the "Wish" indicator for detecting the current rally. The GMI remains at a maximum +6, and the GMI-S and GMI-L indicators are also strong. We should have known that the market would rally into the release of first quarter earnings. There were 270 new highs in my universe of 4,000 stocks and between 65-69% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Tuesday. One half of all stocks are now above their 30 day averages and 69% are above their 10 week averages. Tuesday was the sixth day (U-6) in the current short term QQQQ up trend….
I entered the Squawk Box stock trading contest; check it out. Maybe one of us will win a Maserati…….
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