While the other 4 components of the GMI remain positive, I am concerned that the 10 Day Successful New High and Number of New High components are negative. For someone who likes to trade stocks at new highs it is worrisome to me that prior new highs are not doing well and there are fewer stocks hitting new highs. The market averages may be masking this weakness. I am therefore very cautious and mostly in cash now. However, if I had been disciplined enough to buy TQQQ on 5/6, Day 1 of the new QQQ short term up-trend, I would be sitting on a gain of +30.1%, greater than 98% of the Nasdaq 100 stocks (only NVDA and MRNA did better) and 99% of the S&P500 stocks. I hope some of you had the courage to follow this TQQQ strategy based on my QQQ short term trend indicator. Let me know……
