The GMI remains at 5, and there were 245 new highs in my universe of 4,000 stocks. 
50-64% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Wednesday. Wednesday was the ninth day in the current QQQQ up-trend. I am buying the QQQQ ultra ETF (QLD, see yesterday’s post) as the Nasdaq 100 stocks continue to establish an up-trend. As this up-trend matures, I will add specific individual stocks.
GMI:5; GMI-S: 100; QLD at twice the speed of QQQQ
The GMI is still at 5 and the GMI-S is 100, indicating that all of my short term indicators for four primary stock index ETF’s (SPY, DIA, QQQQ, IJR) are positive. 53% of the Nasdaq 100 stocks advanced on Tuesday, along with 63% of the S&P 500 and 67% of the Dow 30 stocks. 
There were 183 new yearly highs in my universe of 4,000 stocks and only 21 new lows. 59% of stocks are in an up-trend, up from 15% on July 14. Tuesday was the eighth day in the current QQQQ up-trend.
Did you know there are relatively new ETF’s that allow one to bet on twice the percentage move of major indexes and that these ProShares ETF’s just surpassed a million share day? If we think the QQQQ train is moving up, we can jump on QLD and travel at twice the speed of the index. But remember, QLD can move twice as fast in both directions……..
Please send your comments to: silentknight@wishingwealthblog.com.
GMI: 5; Waiting for a +6
The GMI remains at +5 as 150 stocks in my universe hit a new high on Monday. 85% of the Nasdaq 100 stocks rose along with 78% of the S&P 500 stocks and 83% of the Dow 30 stocks. 
Monday was the seventh day of the current QQQQ up-trend. The GMI-S is back to 94 and the GMI-L is at 63. It looks like we are getting the routine rise in the last week of the month. I remain long a few stocks and will wait to see whether this up-trend gets stronger. There is plenty of time to jump on this train once the GMI turns +6.
Please send your comments to: silentknight@wishingwealthblog.com.