The new up-trend will have to last 5 days for me to have confidence in it. It is very strange and noteworthy that only a minority of the Nasdaq 100 stocks rose as that index advanced. IBD still sees the market uptrend under pressure.
Dr. Wish
4th day of $QQQ short term down-trend
Another up day on Tuesday will start a new QQQ short term up-trend.
3rd day of $QQQ short term down-trend; small-caps out-perform
IBD still sees market up-trend under pressure. The GMI is still on a Buy signal from January, but is holding to a middle 3 our of 6. The new QQQ short term down-trend must reach at least 5 days for me to be more confident about it. Interestingly, the IWM, Russell 2000 ETF , seems to be showing a lot of relative strength, having just broken above its green line top to an all-time high. Clearly, small-cap stocks are out-performing large-caps right now.
Here is the GMI table. The SPY has now closed below its 10 week average.
