The GMI remains at 4 (of 6) and the GMI-R is at 7 (of 10). There were only 21 new highs and 41 new lows in my universe of 4,000 stocks on Tuesday. Tuesday was the 26th day of the current QQQQ short term up-trend. Holding QLD is a wonderful way to catch this up-trend. Since this up-trend began QLD has advanced by 11.5%, almost twice the 6.2% advance in the QQQQ. In addition, URBN, which I first wrote about on 4/7 at 32.54, broke out on Tuesday, closing at $34.64, an all-time high. I own URBN. Growth stocks are coming to life. Twelve stocks on the IBD100 stock lists I have monitored the past year hit a new high on Tuesday: MA, FLS, ICLR, URBN, WRNC, ISYS, HOS, BMI, GTLS, JST, NXY, SDA. This is a good place to look for leaders in the current rally.
IBD
GMI: 5; GMI-R: 8; 21st day of QQQQ short term up-trend
The GMI remains at 5 (of 6) but the GMI-R fell one to 8 (of 10). This is because there were more new lows than highs (131 vs. 111) in my universe of 4,000 stocks on Tuesday. Tuesday was the 21st day in the current QQQQ short term up-trend. I continue to hold QLD and to write calls on IBD 100 stocks. CPST, a Judy’s Pick, continues to out-perform the market.
GMI: 5; GMI-R: 9; 20th day of QQQQ short term up-trend
The GMI and GMI-R remain at 5 (of 6) and 9 (of 10) respectively. There were 132 new highs and 49 new lows in my universe of 4,000 stocks on Monday. I am accumulating QLD and writing calls on IBD 100 stocks. Monday was the 20th day of the QQQQ short term up-trend.