The GMI rose to 3 and the GMI-R to 5. The QQQQ, which bounced down off of resistance last Friday, broke through on Tuesday. Another up day tomorrow will signal a new up-trend. Meanwhile, Tuesday was the 39th day of the current QQQQ down-trend. There were 63 new highs and 85 new lows in my universe of 4,000 stocks on Tuesday. The Worden T2108 indicator is now up to 44%. The key is to wade slowly into the new up-trend, if it is confirmed.
Dr. Wish
GMI: 0; GMI-R: 0; QQQQ in 37th day of down-trend, fails to break through
The GMI and GMI-R are both back to zero. There were 40 new 52 week highs and 90 new lows in my universe of 4,000 stocks on Friday. The QQQQ bounced down off of resistance. Time to be defensive and mainly in cash.
GMI: 1; GMI-R: 3; 36th day of QQQQ down-trend; ALNY
The GMI fell back to one (of 6) and the GMI-R to 3 (of 10). There were 53 new highs and 63 new lows in my universe of 4,000 stocks on Wednesday. The QQQQ is right on resistance. We need to wait to see if it can break through. ALNY, one of Judy’s favorites, rose 5% on Wednesday. I own a few shares of ALNY.