Dr. Wish

GMI: 6; GMI=S: 100; buy QLD again?

@ 2:42 am

The GMI is back to 6 and the GMI-S is now 100, indicating that all of the four short term indicators for each of four index ETF’s (DIA,SPY,QQQQ,IJR) are now positive.Gmi0215_1 56% of the Nasdaq 100 stocks rose on Thursday, along with 58% of the S&P 500 and 43% of the Dow 30 stocks. There were 369 new highs in my universe of 4,000 stocks.  65% of the Nasdaq 100 stocks are now above their 30 day averages. The QQQQ is now in its second day of a new up-trend.  It may be time to wade into the QLD ultra QQQQ ETF again.

Please note the disclaimers at the bottom of yesterday’s post.

GMI: 5; GMI-S: 81; NUAN, ATHR, CEPH

@ 8:52 am

Sorry I missed posting on Wednesday.  The GMI is still 5 with the daily trend of the QQQQ too close to call.  Gmi0214_1 80-90% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Wednesday.  There were 422 new highs in my universe of 4,000 stocks.  The GMI-S rose to 81, indicating renewed strength in my short term indicators.  Still keeping an eye on NUAN, ATHR and CEPH, some of which I own.  These looked like cup with handle patterns and I wrote about them in prior posts. Check out my disclaimers below.

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GMI: 5; GMI-S: 44: QQQQ down-trend?

@ 12:01 am

The GMI fell to 5 and the GMI-S fell 19, to 44.  Gmi0212 26% of the Nasdaq 100 stocks rose on Monday, along with 37% of the S&P 500 and 43% of the Dow 30 stocks. There were only 109 new highs in my universe of 4,000 stocks.  The GMI-S fell to 44, as none of the four short term indicators for the QQQQ remain positive. Monday was the first day in the new QQQQ down-trend, but the moving averages are flat, indicating no strong up or down-trend.   The QQQQ remains within its horizontal channel.  Only 41 of the stocks from the IBD 100 list from 2/05 rose on Monday and only 46% closed above their price on 2/05.  Only 51% of the Nasdaq 100 stocks closed above their 30 day averages.

Please note my disclaimers at the bottom of yesterday’s post.