The GMI stayed at 5 today, but the GMI-S rose to 75. 75-77% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes rose on Wednesday. Wednesday was the 5th day in the current QQQQ down-trend. Another up day in the QQQQ will turn that daily indicator positive. 56% of the Nasdaq 100 stocks are now above their 30 day averages. However, if GOOG cannot rise after the good earnings it released Wednesday afternoon, it will be another sign of weakness in the leaders. RIMM and AAPL have already rolled over.
See my disclaimers at the bottom of my previous post.