Dr. Wish

The GMI is still at 6 and there were an amazing 368 new highs and only 8 new lows in my universe of 4,000 stocks.   86% of the Nasdaq 100 stocks rose, as did 80% of the S&P 500 stocks and 70% of the Dow 30 stocks.   82% of the stocks on the IBD 100 list from 10/02 advanced and 14 of them hit a new high.   85% of the Nasdaq 100 stocks closed above their 30 day averages.   Thursday was the 38th day of the current QQQQ up-trend.   AAPL, which I own, bounced off of its 30 day average on Thursday.

The market held up today and the GMI remains at 6.   I am fully invested on the long side.   There were 191 new highs in my universe of 4,000 stocks on Wednesday.   Wednesday was the 37th day in the current QQQQ up-trend.   41-50% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 stock indexes advanced.

The IBD 100 stock lists that I have been following still show underperformance.   Only 20-25% of the IBD 100 stocks rose on Wednesday, compared with 41-50% of the stocks in the major indexes. However, the IBD 100 list from 10/02 did register 14 new highs.   Nevertheless, only 68% of the stocks from the IBD 100 list published on 10/02 closed higher Wednesday than on the day the list was published……