GMI:6; Worden T2108 indicator= 79.62%

The GMI is still at a maximum of 6, with the QQQQ in its 23rd day of a short term up-trend. The Worden T2108 indicator is now just short of 80%, near the highest level that the market goes to.  T2108 is the percentage of NYSE stocks that closed above their 40 day moving averages.  The indicator bottomed below 8% in August and has now fully recovered.  This indicator represents to me a pendulum of the market and it has now swung to the bullish extreme.  The market can often remain strong for several months with the indicator  at this extreme level. 

2 thoughts on “GMI:6; Worden T2108 indicator= 79.62%”

  1. Stocks over their 100dma , have crossed UP over those above their respective 150 , 200dma’s . This has ocurred over the last 4 market sessions . This has previously been a sign of much stronger upside to come . In spite of crumby market news , and gloom about housing , up she goes . Wall of Worry .

  2. There seems to be a correlation between the VIX and market momentum indicators over the last 5 days . Is this normal near momentum bottoms , I see more volatility ahead on the VIX then .

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