The GMI is still at a maximum level of 6 and the QQQQ is in its 25th day of its short term up-trend. The Worden T2108 indicator is 79%. Judy’s pick, PAY, vaults 4% on Thursday (I own it).
Dr. Wish
GMI: 6; 33-38% of stocks advance
GMI is still 6, while only 33-38% of the stocks in the Dow 30, Nasdaq 100 and S&P500 indexes advanced. Wednesday was the 24th day of the current QQQQ short term up-trend. There were 139 new highs and 19 new lows in my universe of 4,000 stocks. The up-trend remains intact.
GMI:6; Worden T2108 indicator= 79.62%
The GMI is still at a maximum of 6, with the QQQQ in its 23rd day of a short term up-trend. The Worden T2108 indicator is now just short of 80%, near the highest level that the market goes to. T2108 is the percentage of NYSE stocks that closed above their 40 day moving averages. The indicator bottomed below 8% in August and has now fully recovered. This indicator represents to me a pendulum of the market and it has now swung to the bullish extreme. The market can often remain strong for several months with the indicator at this extreme level.