The GMI remains at zero, although just about all stocks advanced on Thursday– 97% of the Nasdaq 100 stocks, 96% of the S&P 500 and 100% of the Dow 30 stocks. The GMI-S rose to +25 solely because the indexes closed above their 10 day averages. Still the market has a long way to go to turn the GMI positive. 
There were 12 new highs and 50 new lows in my universe of nearly 4,000 stocks. Only 27% of the Nasdaq 100 stocks closed above their 30 day averages, and 22% are above their 10 week averages. Only 36% of stocks are in a bullish up-trend. Thursday was the 25th day of the QQQQ down-trend.
The IBD 100 stocks as of 5/15 had another strong day. 
96% of the IBD 100 advanced, compared with 90% of my universe of stocks. And 96% of the IBD 100 closed higher than they opened. 70% of the IBD 100 are now in a bullish up-trend. The two IBD 100 stocks to hit a new high Thursday were GYMB and XPRSA. Most of the strength came with regard to the short term averages. Thus, 37% of the IBD 100 stocks are now above their average close for the past 10 days (10 day average). However, only 9% are above their average closes for the past 30 days, a key measure of strength. Just 9% of the IBD 100 list on 5/15 closed Thursday above their close on 5/15.
Only time will tell whether this rush to buy is more than a brief bounce from the string of down days. Most bottoms take time to form, with at least one re-test of the lows. I only know a turn after a new trend is established. For now, the trend remains down.
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