Wishing Wealth Blog

The GMI is still 6, in spite of Thursday’s decline.  Only 25-30% of stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced.  There were 163 new highs in my universe of 4,000 stocks.  The QQQQ has now closed above its 10 week average for six weeks and is in its 24th day of an up-trend.  GOOG has continued to stabilize and still appears positive unless it closes below 392.74.  I also still like AAPL. (I own both of these stocks.)  Market bottoms occur when people talk about recession; tops occur amid optimism.

Please send your comments to:  silentknight@wishingwealthblog.com.

The GMI returned to 6 as the QQQQ rally continued, now in its 23rd day.  I am continuing to ride the QLD as this trend continues.  There were 243 new highs in my universe of 4,000 stocks.  The GMI-L is now 94, and the GMI-S is still at 100.  Thus, both long and short term indicators are positive. 

Please send your comments to:  silentknight@wishingwealthblog.com.

The GMI fell to 4.  There were only 78 new highs in my universe of 4,000 stocks and a reduction in the number of successful 10 day new highs.  Only 32% of the Nasdaq 100 stocks rose on Tuesday, along with 40% of the S&P 500 stocks and 50% of the Dow 30 stocks.  The QQQQ up-trend is intact and in its 22nd day…..

GOOG weakened on huge volume, after Yahoo’s news of a reduced sales  forecast.  GOOG is back below its declining trendline but is still in an up-trend. Wednesday’s action should provide clues to whether GOOG’s decline is just a temporary setback or the start of a meaningful decline.

Please send your comments to:  silentknight@wishingwealthblog.com.