Dr. Wish

The GMI is back to 6, and the "window dressing" I wrote about yesterday has begun.  The funds are loading up on the leaders.  The GMI-S is back to 100.  84-88% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Monday.  My holdings in QLD and AAPL did nicely.  There were 132 new highs in my universe of 4,000 stocks.  Monday was the 26th day in the current QQQQ up-trend.  The big question is whether the scary month of October will begin on the down-side.

Please send your comments to:  silentknight@wishingwealthblog.com.

The GMI fell back to 5 on Friday.  However, with the end of the quarter coming this week, the funds might buy the winners so they look smart when they send out their end of quarter portfolios.  It should be an interesting week.

Please send your comments to:  silentknight@wishingwealthblog.com.

The GMI is still 6, in spite of Thursday’s decline.  Only 25-30% of stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced.  There were 163 new highs in my universe of 4,000 stocks.  The QQQQ has now closed above its 10 week average for six weeks and is in its 24th day of an up-trend.  GOOG has continued to stabilize and still appears positive unless it closes below 392.74.  I also still like AAPL. (I own both of these stocks.)  Market bottoms occur when people talk about recession; tops occur amid optimism.

Please send your comments to:  silentknight@wishingwealthblog.com.