The GMI is still 6. 
The QQQQ is in the 23rd day of an up-trend. There were 359 new highs in my universe of 4,000 stocks. The QQQQ and SPY have closed above their 10 week averages for five weeks. The Worden indicator is at 75%, still quite high and back down from over 80% in the past two weeks.
The IBD 100 stocks are doing quite well, especially compared with th Nasdaq 100 stocks. 
It is important to ride the trend and to not anticipate a top. There will be plenty of time to consider going short or to cash once the GMI falls below 4.
Eric,
Have you tried the bear funds that are 2x short the utilities, REITs, and Financials? The symbols are SDP, SRS, SKF. This might be a good alternative to IBD 100 stocks if interest rates continue to go up.
Chris