The GMI remains at a maximum of 6. There were 272 new highs on Friday in my universe of 4,000 stocks. Friday was the 8th day in the current QQQQ short term up-trend. The weekly charts of the major indexes show a market trying to regain the ground lost in the big February decline. However, this rebound is coming on relatively less volume than the preceding decline. If the rise of the QQQQ fails to exceed the February top of 45.55 , we could see a major decline. We are getting very close to the "sell in May" period. But it pays to remain patient and to react to events, not anticipate them in advance.