The GMI remains at 5 and the GMI-S is at 50. Only 35% of the Nasdaq 100 stocks rose on Thursday, along with 32% of the S&P 500 stocks and 43% of the Dow 30 stocks. There were 231 new 52 week highs in my universe of 4,000 stocks. Thursday was the 6th day in the current QQQQ down-trend. The Nasdaq 100 stocks and the Dow 30 stocks are clearly on different tracks. It remains to be seen next year which of these indexes will lead the market.
Happy New Year to all of my readers, and I hope to see you back next year. Please see my disclaimers at the bottom of yesterday’s post.