The GMI remains at 4 (of 6) and the GMI-R at 8 (of 10). There were 53 new highs and 47 new lows in my universe of 4,000 stocks on Thursday. The Worden T2108 indicator is at 53%, in neutral territory. As this up-trend develops, I am accumulating the ultra long QQQQ ETF, QLD, and the ultra long ETF for the Dow 30, DDM. Thursday was the 7th day of the current QQQQ up-trend.
Dr. Wish
GMI: 4; GMI-R: 8; 5th day of QQQQ up-trend
There were 58 new highs and 47 new lows in my universe of 4,000 stocks on Tuesday. Since this new QQQQ up-trend began (by my definition) 5 days ago, the QQQQ has risen 2.5% and 74% of the Nasdaq 100 stocks have advanced; 22% rose by more than 5%. The QLD has risen 5.2%. Staying on the side of the market trend greatly enhances the probability of profitable trading.
GMI: 5; GMI-R: 9; Day four of new QQQQ up-trend; buying QLD
The GMI is now 5 (of 6) and the GMI-R is 9 (of 10). There were 134 new highs and 52 new lows in my universe of 4,000 stocks on Monday. June 19 was the last time there were more than 100 new highs (102). Monday was the fourth day of the current QQQQ up-trend. I am accumulating QLD and other stocks.