Dr. Wish

The GMI returned to 6 as the QQQQ rally continued, now in its 23rd day.  I am continuing to ride the QLD as this trend continues.  There were 243 new highs in my universe of 4,000 stocks.  The GMI-L is now 94, and the GMI-S is still at 100.  Thus, both long and short term indicators are positive. 

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

The GMI fell to 4.  There were only 78 new highs in my universe of 4,000 stocks and a reduction in the number of successful 10 day new highs.  Only 32% of the Nasdaq 100 stocks rose on Tuesday, along with 40% of the S&P 500 stocks and 50% of the Dow 30 stocks.  The QQQQ up-trend is intact and in its 22nd day…..

GOOG weakened on huge volume, after Yahoo’s news of a reduced sales  forecast.  GOOG is back below its declining trendline but is still in an up-trend. Wednesday’s action should provide clues to whether GOOG’s decline is just a temporary setback or the start of a meaningful decline.

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

GMI is still at 6.  GOOG was strong yesterday, see yesterday’s post. 

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