Stock Market Technical Indicators & Analysis
The GMI held at 6 and the GMI-S rose to 94. 
79% of the Nasdaq 100 stocks rose on Wednesday, along with 60% of the S&P 500 and 43% of the Dow 30 stocks. 68% of the IBD 100 stocks from the list published on 2/5 advanced. There were 477 new 52 week highs in my universe of 4,000 stocks, the largest number since 12/5, when there were 554. Wednesday was the 4th day in the current QQQQ short term up-trend.
The GMI is still 6. There were a healthy 379 new 52 week highs in my universe of 4,000 stocks. 
44% of the Nasdaq 100 stocks advanced, along with 61% of the S&P 500 and 53% of the Dow 30 stocks. Tuesday was the third day (U-3) in the current QQQQ up-trend. But its 10, 30 and 50 day averages are flat and almost identical. RATE, the stock I discussed on Sunday evening, broke out of a cup with handle formation on high volume on Tuesday. CEPH appears to be another cup with handle formation in the making, with a possible break out point of 78.40.
See my disclaimers in my prior post.
The GMI is still at the maximum reading of 6. Only 45% of the Nasdaq 100 stocks rose on Monday along with 43% of the S&P 500 and 57% of the Dow 30 stocks. 54% of the stocks in the IBD 100 list from 2/5 also advanced. There were 350 new 52 week highs 
in my universe of 4,000 stocks. Monday was the second day (U-2) in the current QQQQ up-trend. Note that I have added to my market index table the count of the number of weeks that the SPY closed above or below its 10 week average. Clearly, the SPY has been in a sustained up-trend much longer than the QQQQ, 24 weekly closes versus 1 weekly close above their 10 week averages. ATHR broke out on Monday on very high volume. RIMM may be resuming its up-trend.
