A pretty rough day on Wednesday,
although the GMI is still at 6. Only 12-23% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced. But there were still 204 new highs in my universe of 4,000 stocks. The GMI-S fell to 50, signifying that only one half of the short term indicators for four indexes remain positive. I sold my weakest holding on Wednesday and will lighten up if this market continues to weaken. It is not unusual to see weakness at the beginning of the month after most earnings have come out. I will try to hold on for an expected end of year rally, but I will not fight the GMI…..