The GMI declined on Tuesday. Break out stocks are failing. Only 41% of the stocks that hit a new high ten days ago closed higher Tuesday than they did ten days earlier. 
The Daily SPY index turned negative and the GMI-S fell to 38. Between 13-23% of the stocks in the QQQQ, DIA and SPY rose on Tuesday. Only the majority (75%) of the short term indicators for the QQQQ remain positive. While the short term up trend in the QQQQ is still intact, I am raising stops and becoming defensive………
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