I do not often recommend individual stocks, but after the close on 10/4, I wrote: "I am riding high with the QLD, a ProShares ETF that moves twice as much as the QQQQ, which it mimics. I am also holding IAI, an ETF of U.S. brokerage stocks, a group that typically rises in bull markets when trading volume expands. Why not own a piece of the casinos. Other stocks that came alive today include RIMM, and finally GOOG, both of which I own." Since I posted the above on 10/4, QLD has increased +15%, IAI is up +8%, GOOG is up +22% and RIMM is up +27%. One did not have to catch the bottom in August to profit from this rise. Contrary to what many pundits claim, there is plenty of time to catch the train after it has left the station……
The GMI is still at the maximum reading of 6. On Tuesday there were 275 new yearly highs in my universe of 4,000 stocks. 53% of the Nasdaq 100 stocks rose, as did 54% of the S&P 500 stocks and 43% of the Dow 30 stocks. 63% of the stocks on the IBD 100 list for 11/20 advanced on Tuesday. 73% of the Nasdaq 100 stocks closed above their 30 day averages, well below the peak of 88% reached on 10/16. 
76% of the stocks in my universe closed above their 10 week averages, also below the peak of 83% reached on 10/16. October 16 was the last short term peak in the QQQQ. So, it looks like this rally has more to go before these two indicators reach the heights attained when the market hit a minor peak in mid-October.