The GMI rose to 1 out of 6 and the GMI-R to 3 out of 10. Wednesday was the 29th day of the current QQQQ short term down-trend. There were only 38 new highs and 55 new lows in my universe of 4,000 stocks on Wednesday. The current bounce in stocks has not yet violated the down-trend.
Dr. Wish
GMI: 1; GMI-R: 1; 28th day of QQQQ down-trend; some IBD100 new highs
The GMI and GMI-R each advanced to one, because the 10 Day Successful New High Index turned positive. Still, there were only 57 new highs and 74 new lows in my universe of 4,000 stocks on Tuesday. The Worden T2108 indicator is at 46%. There were 13 stocks on my IBD100 lists that hit a new high on Tuesday: POT,KWK,NEU,SID,WMS,JOYG,XTO,CHTT,SWN,UPL,RRC,MEE, MTL. Some of these stocks might become leaders when the bull returns.
GMI: 0; GMI-R: 0; 27th day of QQQQ down-trend
The GMI and GMI-R remain at zero. There were 49 new highs and 120 new lows in my universe of 4,000 stocks on Monday. Monday was the 27th day of the short term down-trend in the QQQQ. The Worden T2108 indicator is at 41%.