IBD

The GMI fell to 5 and the GMI-S fell 19, to 44.  26% of the Nasdaq 100 stocks rose on Monday, along with 37% of the S&P 500 and 43% of the Dow 30 stocks. There were only 109 new highs in my universe of 4,000 stocks.  The GMI-S fell to 44, as none of the four short term indicators for the QQQQ remain positive. Monday was the first day in the new QQQQ down-trend, but the moving averages are flat, indicating no strong up or down-trend.   The QQQQ remains within its horizontal channel.  Only 41 of the stocks from the IBD 100 list from 2/05 rose on Monday and only 46% closed above their price on 2/05.  Only 51% of the Nasdaq 100 stocks closed above their 30 day averages.

Please note my disclaimers at the bottom of yesterday’s post.

The GMI held at 6 and the GMI-S rose to 94.  79% of the Nasdaq 100 stocks rose on Wednesday, along with 60% of the S&P 500 and 43% of the Dow 30 stocks.  68% of the IBD 100 stocks from the list published on 2/5 advanced.  There were 477 new 52 week highs in my universe of 4,000 stocks, the largest number since 12/5, when there were 554.  Wednesday was the 4th day in the current QQQQ short term up-trend. 

The GMI is still at the maximum reading of 6.  Only 45% of the Nasdaq 100 stocks rose on Monday along with 43% of the S&P 500 and 57% of the Dow 30 stocks.  54% of the stocks in the IBD 100 list from 2/5 also advanced.  There were 350 new 52 week highs in my universe of 4,000 stocks.  Monday was the second day (U-2) in the current QQQQ up-trend.  Note that I have added to my market index table the count of the number of weeks that the SPY closed above or below its 10 week average.  Clearly, the SPY has been in a sustained  up-trend much longer  than the QQQQ, 24 weekly closes versus 1 weekly close above their 10 week averages.  ATHR broke out on Monday on very high volume.  RIMM may be resuming its up-trend.