Long and short term trends remain up.
Worden T2108 is at 86%–very overbought
The GMI is at 6 and the QQQ short term up-trend completed its 14th day on Friday. Some short term up-trends have lasted more than 80 days. However, it is rare to see 86% of NYSE stocks close above their 40 day moving average (T2108), although T2108 has reached 92% before. I remain invested long, nevertheless, until the short term trend reverses to the down side. Twelve stocks that hit a new high on Friday and passed my scan are: STMP,BKI,NUS,MANH,FAST,HITK,ORLY,WPZ,ISRG,PSMT,RL,SPRD. Research them.
13th day of QQQ short term up-trend; T2108 overbought
With the T2108 at 85%, we are near the extreme overbought level that this indicator ever reaches. It looks like HITK broke out on Thursday with high volume. I bought some. See the weekly chart below. Click on chart to enlarge.
