The GMI rose to +2, as there were 115 new highs (20 new lows) in my universe of 4,000 stocks on Friday. 
There were also 6 successful 10 day new highs; 55% of the 11 stocks that hit a new high 10 days ago closed higher on Friday than they closed 10 days earlier. While this is a small number, it does show that one had a 55% chance of making a profit by buying new highs 10 days ago and holding them until Friday. In contrast, only 40% of new lows 10 days ago might have produced a profitable short trade. The GMI long and short term indexes also improved on Friday. 63% of the GMI-L indicators are now positive as well as 44% of the GMI-S indicators. Each index measures 4 trend indicators each for the DIA, IJR, SPY and QQQQ. Friday was the sixteenth day of the current short term down-trend in the QQQQ, and the QQQQ remains below its 10 week average. I am most likely to make money trading when the QQQQ is consistently above its 10 week moving average……
The IBD 100 stocks and my universe of 4,000 stocks have performed similarly recently. In a strong market the IBD 100 growth stocks with great technicals and fundamentals typically outperform other stocks. 
On Friday, 58% of my universe advanced, as did 60% of the IBD 100 stocks. But 43% of my universe closed higher than they opened on Friday, compared with 28% of the IBD 100 stocks. Only 3% of my universe hit a new high, as did 4% of the IBD 100. 18% of my universe stocks are in a short term up-trend, compared with 16% of the IBD 100. The IBD 100 stocks are still much more likely to have closed above their 10 and 30 week averages. Furthermore the IBD 100 stocks were more likely to have found support at their 10 week averages (23% vs. 17%).
What this all boils down to is that the IBD 100 stocks and my universe of stocks are all showing short term strength, as all stocks are recovering from their recent declines. Note, however, that since this list of IBD 100 stocks was posted on 5/15, only 32% of the stocks closed higher on Friday than they did on 5/15. Put another way, 68% of the IBD 100 stocks have declined since the list was published. IBD has been repeatedly noting that one should not fight the market trend, and that in a weak market most IBD 100 growth type stocks will decline in spite of their great fundamentals and technicals. Even after this short decline, the IBD 100 growth stocks remain in much better longer term technical shape than the rest of the market, as measured by their 10 and 30 week averages. In addition, even after the current weakness in the general market, 18% of my universe of stocks are within 5% of a new high, and only 8% are within 5% of a new low. The four IBD 100 stocks that hit a new high on Friday were HOC, OII, IFO, SPSS. When most stocks are weak, it is easier to see the winners……………
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