GMI rises to 3; still cautious

GMI3/6
GMI-24/8
T210857%

This is a strange market lately.   The majority of the 9 market leaders I track are below their 30 day averages and far from their 52 week highs.   Two are at new highs (PCLN and BIDU).   Perhaps the leaders have completed their bull market run and   have topped, while others will rise for a while and top.   I do know that the Dow 30 (ETF, DIA) was strong on Thursday.   For now, it looks like tech stocks are trailing the large caps. The QQQ completed the 13th day of its short term down-trend on Thursday.   A few more up days could turn the trend around. Meanwhile, IBD continues to call the market in a correction.   This rebound from the March lows has come on insufficient volume to convince IBD editors that the correction is over.

3 thoughts on “GMI rises to 3; still cautious”

  1. Whenever I find a market confusing or strange, my first thought is that me might be stuck in a trading range for a while. This might well be the case for the current market as well…

  2. Well, I’ve stayed fully invested on SXCI and LULU since Feb. It is paying off handsomely, particularly today. WOW !! Call it luck or what? It teaches a novice like me NOT to follow the purported “experts”.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: