GMI: 0; GMI-R: 1; T2108: 48%

The GMI-R rose to one on Wednesday.  The QQQQ completed the 9th day of its short term down-trend.  However, the QQQQ is just below its critical  moving average.  A rise from here could turn the short term trend positive.  The market seems able to hold up under a flood of bad earnings.  So, the selling may be done for now.   This appears to be a time of considerable back and forth in the market.  I remain mainly in cash.

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