The GMI is still zero. Only 8% of stocks in my universe of 4,000 are in a short term up trend. This is the lowest percentage since last October and the lowest number I have recorded. There were only 13 new yearly highs and 139 new lows. Only 23% of stocks closed above their 10 week averages. Between 26-33% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Monday. Only 13% of the IBD 100 stocks from last week advanced. Only 12% of the Nasdaq 100 stocks closed above their 30 day averages. This is not the time to be brave. I am in cash or short.
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