GMI: 6; GMI-S: 75; Brokers strong; LEH- cup with handle?

The GMI is back to a maximum of 6 and the GMI-S is 75.  Stocks are bouncing off of support all over.  Gmi1012_3 There were 263 new 52 week highs in my universe of 4,000 stocks on Friday.  Friday was the 4th day in the current QQQQ up-trend. I am buying the ultra QQQQ ETF, QLD, again.  GOOG and AAPL also are gaining strength along with ATHR.  (I own these.)

The brokerage stocks are climbing again.  I mentioned quite some time ago that in a rising market, brokers must do well as trading volume tends to rise. Thus, the U.S. brokerage ETF, IAI, rose 6% last week. Leh0112  Brokers that appear to be in up-trends include:  MER, GS, BSC, MS, SCHW, SEIC, to name a few. It looks like LEH has just broken out of a cup with handle base pattern. Strength in the brokers suggests good earnings to come and a strong market.

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