The GMI remains Green.
General Market Index (GMI) table
Blog Post: Day 6 of $QQQ short term up-trend; 87 US new highs and 95 lows, but 43 at ATH, the most since September 1; 4 IPOs since 2019 reached an ATH, see list and weekly chart of $DUOL
William O’Neil has said that stocks that have gone public in the recent past and that are reaching new highs may be worth noting. As a recent IPO climbs there are many funds that will need to buy it. The following four stocks had an IPO since 2019 and reached an ATH on Friday. DUOL is 3.3x its 250 day low.
Below is the weekly chart of DUOL, which had unusual volume on the break-out after reporting earnings. DUOL has an IBD composite rating=98 and RS=99.
The GMI remains at 3 (of 6) but only because the first component cannot yet be computed on at least 20 stocks. The GMI is usually a little late at turning Green.
Blog Post: Day 1 of new $QQQ short term up-trend; GMI=4 and could turn Green on Monday; 103 US stocks at new highs and 19 at lows; Focusing on stocks at ATH, see list of 6 with a GLB on Friday
These six stocks on my IBD/MS lists had a green line break-out (GLB) to an ATH on Friday and should be researched. Stocks that have a GLB early in an up-trend may turn out to be true market leaders.
The GMI is now at 4 (of 6) and could turn Green on Monday. QQQ and SPY have closed back above their 10 week averages.
