GMI: 6; GMI-S: 100; CEPH, GLD, NUAN

@ 12:01 am

The GMI  and GMI-S are all at their maximum values.  65% of the Nasdaq 100 stocks closed above their 30 day averages.  64% of the IBD 100 list from 2/5 rose on Friday and 20% of them hit new highs.  There were 256 new highs in my universe of 4,000 stocks on Friday.  Gmi0216_1 Friday was the third day in the current QQQQ up-trend.   The SPY has closed above its 10 week average for 29 straight weeks.  With so many people skeptical of this rise, this up-trend may have further to go.  CEPH still looks like a cup with handle  in the making.  GLD (pegged to the price of gold) also appears to be in an up-trend. NUAN, a cup with handle break-out, also looks strong.

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GMI: 6; GMI=S: 100; buy QLD again?

@ 2:42 am

The GMI is back to 6 and the GMI-S is now 100, indicating that all of the four short term indicators for each of four index ETF’s (DIA,SPY,QQQQ,IJR) are now positive.Gmi0215_1 56% of the Nasdaq 100 stocks rose on Thursday, along with 58% of the S&P 500 and 43% of the Dow 30 stocks. There were 369 new highs in my universe of 4,000 stocks.  65% of the Nasdaq 100 stocks are now above their 30 day averages. The QQQQ is now in its second day of a new up-trend.  It may be time to wade into the QLD ultra QQQQ ETF again.

Please note the disclaimers at the bottom of yesterday’s post.

GMI: 5; GMI-S: 81; NUAN, ATHR, CEPH

@ 8:52 am

Sorry I missed posting on Wednesday.  The GMI is still 5 with the daily trend of the QQQQ too close to call.  Gmi0214_1 80-90% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Wednesday.  There were 422 new highs in my universe of 4,000 stocks.  The GMI-S rose to 81, indicating renewed strength in my short term indicators.  Still keeping an eye on NUAN, ATHR and CEPH, some of which I own.  These looked like cup with handle patterns and I wrote about them in prior posts. Check out my disclaimers below.

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