The GMI and GMI-R are back to zero. Thursday was the 30th day of the current QQQQ short term down-trend. There were 39 new highs and 81 new lows in my universe of 4,000 stocks. The down-trend remains intact and it is very nice to wait out these sharp daily swings in the averages while on the sideline.
GMI: 1; GMI-R: 3; 29th day of QQQQ down-trend
The GMI rose to 1 out of 6 and the GMI-R to 3 out of 10. Wednesday was the 29th day of the current QQQQ short term down-trend. There were only 38 new highs and 55 new lows in my universe of 4,000 stocks on Wednesday. The current bounce in stocks has not yet violated the down-trend.
GMI: 1; GMI-R: 1; 28th day of QQQQ down-trend; some IBD100 new highs
The GMI and GMI-R each advanced to one, because the 10 Day Successful New High Index turned positive. Still, there were only 57 new highs and 74 new lows in my universe of 4,000 stocks on Tuesday. The Worden T2108 indicator is at 46%. There were 13 stocks on my IBD100 lists that hit a new high on Tuesday: POT,KWK,NEU,SID,WMS,JOYG,XTO,CHTT,SWN,UPL,RRC,MEE, MTL. Some of these stocks might become leaders when the bull returns.