The GMI is at 3 and the GMI-R is at 5. There were 102 new highs and 242 new lows in my universe of 4,000 stocks on Thursday. We will have to wait for next week after options expiration to see the market's true trend. Thursday was the 7th day of the current QQQQ down-trend.
Dr. Wish
GMI: 2; GMI-R: 3; Conditions deteriorating
The GMI fell to 2 (of 6) and the GMI-R to 3 (of 10). Wednesday was the 6th day of the current QQQQ down-trend. There were 84 new highs and 275 new lows in my universe of 4,000 stocks on Wednesday. The Worden T2108 indicator is back to 29%, still above bottom territory (below 20%). After option expiration on Friday, we may see the market decline accelerate. It is time to be hedged or in cash or short.
GMI: 4; GMI-R: 5; CPST breaks out again
The GMI rose to 4 and the GMI-R fell to 5. There were 114 new highs and 123 new lows in my universe of 4,000 stocks on Tuesday. The QQQQ failed to break through its 30 day average. So the QQQQ is still providing few clues as to its probable direction. Tuesday was the 5th day of the current QQQQ down-trend. Meanwhile, CPST, a Judy's pick at $1, broke out again.