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You Are Here: Home > Articles > Contributors > GMI: 0; GMI-R: 1; 0 new highs and only 68 new...

GMI: 0; GMI-R: 1; 0 new highs and only 68 new lows; T2108: 3%
Oct 14, 2008

Dr. Wish

Wishing Wealth
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Well, the bounce finally occurred! The bleeding has stopped. New lows went from 2,832 to 68 in just one trading session. There were no new highs. The GMI-R even advanced to 1 (of 10). This is still a market to watch from the sidelines. The market remains in a down-trend. It remains to be seen whether the indexes can climb enough to change the trend. The Worden T2108 indicator is still oversold and in extreme bottom territory at 3%. Monday was the 30th day of the current QQQQ short term down-trend.

by Dr. Wish (Wishing Wealth)