Dr. Wish

The GMI remains at +6, but the large cap stocks have weakened, at least in the short term.  The GMI-S has fallen to 50, primarily because the Dow 30  and the S&P 500 indexes have declined.  Only 20% of the Nasdaq 100 stocks rose on Friday along with just 13% of the S&P 500 stocks and 10%  of the Dow 30 stocks.  Friday was the ninth day in the QQQQ short term up trend (U-9).  Most of the indicators in the table declined.  But the QQQQ remains in a nice up trend, having completed its second consecutive week above its 10 week moving average. 

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

The GMI remains at a maximum of +6 and the QQQQ is in its eighth day of its short term up trend (U-8) .  All systems are go with the leaders, GOOG and AAPL, moving up again.  It has been a long time since the indexes have been in "harmoney."  The QQQQ is about to complete its second weekly close above its ten week average, the sine qua non for tech stock trading profits on the long side.  51% of the Nasdaq 100 stocks rose on Thursday, along with 39% of the S&P 500 stocks and 20% of the Dow 30 stocks.  I am taking advantage of this up trend while it lasts, probably until first quarter earnings are all released.  Don’t forget the market maxim, "go away in May."  We must watch closely for a top in the tech leaders after April.

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

The GMI remains at +6, as the Nasdaq 100 stocks begin to take off.  The fact that the leaders, GOOG and AAPL, appear to have ended their consolidations is a sign of strength.  76% of the Nasdaq 100 stocks have now closed above their 30 day averages, the largest percentage since  last December 2.  It is clear that the tech stocks have taken over the leadership of the market.  There were 370 new highs in my universe of 4,000 stocks.  Nevertheless, only 60-67% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Wednesday. 

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