The GMI-R fell one, to 5 on Wednesday. There were only 5 new highs and 12 new lows in my universe of 4,000 stocks on Wednesday. None of the 5 new highs were on my IBD100 lists from the past year. The QQQQ completed the 20th day of its short term up-trend. The T2108 indicator backed off from the peak level reached on Tuesday. I am still holding QLD as long as this up-trend holds.
GMI: 2; GMI-R: 6; 19th day of QQQQ short term up-trend: T2108: 89%
The QQQQ short term up-trend continued and completed its 19th day on Tuesday. The GMI and GMI-R remain unchanged, at 2 and 6, respectively. A note of caution, however, is that the Worden T2108 Indicator hit 89%, about as high as it gets during an up-trend. This means that 89% of the NYSE stocks closed above their 40 day averages. T2108 at this level does not signal an immediate decline, it can remain at 80-90% for several months. Seven stocks on my IBD100 lists the past year hit a new high on Tuesday: TWGP,VSEC,NPK,BKR,AMSF,AVAV and MYGN.
Thanks for all of the nice feedback; GMI: 2; GMI-R: 6; IBD100 stocks at new highs
Thanks to all of you who sent me comments about yesterdays post. My market indicators remain the same as I described them yesterday. The seven IBD100 stocks hitting new highs on Monday are: LPHI,MYGN,BKR,SXCI,EMS,AVAV,AMSF. (I own some of these.)