The GMI rose to +1 because 58% of the stocks that hit a new high 10 days ago closed higher on Thursday than they did 10 days before. For the first time in a while, buying new highs was likely to have been profitable. The other 5 indicators remain negative. 
The short term GMI-S rose to +25. It is too soon to tell whether this bounce will become a major up-trend. 88-92% of the stocks in the Nasdaq 100, S&P 500 and the Dow 30 rose on Thursday. There were 81 new highs and 26 new lows in my stock universe. 16% of the stocks in my universe of 4,000 are within 5% of a new high, and only 9% are that close to a new low.Thursday was the fifteenth day (D-15) in the current QQQQ short term down-trend……..
The IBD 100 growth stocks did quite well on Thursday. 
84% rose and 85% closed higher then they opened. 81% closed above their 10 day averages. Still only 8% hit a new high and only 40% of stocks are above their key 30 day average and only 12% are in a short term-up trend. 29% bounced above their 10 week average–a sign of possible support. The longer term trend looks better for the IBD 100 stocks, with 89% closing above their 30 week averages…….
I am nibbling at 1-2 break-out stocks but with the GMI at +1, I remain mostly in cash and in a few puts. Failure of this rally could lead to a significant decline.
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