GMI: 5; GMI-S: 56; Nibbling at QID again

The GMI remains at 5, and the GMI-S rose to 56 because of the strength in the small-cap index ETF (IJR).  There were 115 new 52 week highs in my universe of 4,000 stocks on Friday.  43% of the Nasdaq 100 stocks rose on Friday, along with 49% of the S&P 500 stocks but only 27% of the Dow 30 stocks.  Only 42% of the Nasdaq 100 stocks closed above their 30 day averages, down from 77% on January 12. Friday was the 2nd day in the QQQQ down-trend.  With the leaders, RIMM and AAPL, looking weak and toppy, this market may be getting ready to roll over. I am beginning to nibble again on the inverse ultra short QQQQ ETF, QID.

Please note my disclaimers at the end of my prior post. 

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