GMI: 6; GMI-S: 75; Brokers strong; LEH- cup with handle?

The GMI is back to a maximum of 6 and the GMI-S is 75.  Stocks are bouncing off of support all over.  Gmi1012_3 There were 263 new 52 week highs in my universe of 4,000 stocks on Friday.  Friday was the 4th day in the current QQQQ up-trend. I am buying the ultra QQQQ ETF, QLD, again.  GOOG and AAPL also are gaining strength along with ATHR.  (I own these.)

The brokerage stocks are climbing again.  I mentioned quite some time ago that in a rising market, brokers must do well as trading volume tends to rise. Thus, the U.S. brokerage ETF, IAI, rose 6% last week. Leh0112  Brokers that appear to be in up-trends include:  MER, GS, BSC, MS, SCHW, SEIC, to name a few. It looks like LEH has just broken out of a cup with handle base pattern. Strength in the brokers suggests good earnings to come and a strong market.


GMI: 5; GMI-S: 63; Leaders reviving

The GMI is still 5 and the QQQQ is in its third day of a new up-trend (U-3).  Gmi0111_1 There were 284 new highs in my universe of 4,000 stocks on Thursday.  76-83% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Thursday.  72% of the Nasdaq 100 stocks closed above their 30 day average, up from 32% on December 22.  The leaders, GOOG and AAPL, have come back, and ATHR (see post on 1/10) is gaining strength. I own some of these stocks.

GMI:5; GMI-S: 56; Buying QLD again

The GMI rose to 5 and the GMI-S to 56.  It looks like this is the 2nd day of the new QQQQ up-trend.  Gmi0110_1 There were 138 new 52 week highs in my universe of 4,000 stocks.  69% of the Nasdaq 100 stocks rose along with 59% of the S&P 500 stocks and 57% of the Dow 30 stocks.  I am accumulating QLD again as the QQQQ index rises. A lot of stocks are bouncing off of support.