The GMI remains at 4 (of 6) and the GMI-R is at 7 (of 10). There were 89 new highs and 100 new lows in my universe of 4,000 stocks on Friday. Friday was the 34th day of the current QQQQ up-trend. Eleven of the IBD100 stocks on the list published on 4/12/2008 hit a new high on Friday: NE,PDE,SID,ARD,TTES,SII,PCLN,SWN,GGB,PVA and FTI. While the market technicals weakened last week, the QQQQ up-trend remains intact, for now. And options expire on Friday….
GMI: 4; GMI-R: 7; 33rd day of QQQQ up-trend
The GMI fell to 4 (of 6) and the GMI-R to 7 (of 10). There were 90 new highs and 103 new lows in my universe of 4,000 stocks on Thursday. The Worden T2108 indicator is now at 69%, down from 77% on May 2nd, but still in bullish territory. Thursday was the 33rd day in the current QQQQ up-trend.
GMI: 6; GMI-R: 10; 32nd day of QQQQ up-trend
The GMI and GMI-R remain at their maximum values. There were 110 new highs and 78 new lows on Wednesday in my universe of 4,000 stocks. Wednesday was the 32nd day since I identified the start of the current QQQQ up-trend.