The GMI declined one to +5, as the QQQQ weakened. Tech stocks continue to underperform, with serious declines in some biotechs. 53% of the Nasdaq 100 stocks advanced on Tuesday, compared with 65% of the S&P 500 stocks and 77% of the Dow 30 stocks. Still, 275 stocks hit new highs. The GMI-S fell to 69, primarily because of weakness in the QQQQ’s short term indicators. BBH and DNA continue to weaken.
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