The GMI is back to a maximum of 6 and the GMI-S is 75. Stocks are bouncing off of support all over. 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. 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.