Well, the split market we have been talking about may be about to end–but not yet. The GMI is still 5 but the GMI-R is at 60%. 
The QQQQ is right on support and another decline could turn my indicators negative. Tuesday was the 49th day of the current QQQQ up-trend. The QQQQ has closed the past 10 weeks above its critical 10 week average, but the SPY is now below its 10 week average. Only 13% of my 16 short term indicators for the QQQQ, SPY, DIA and IJR are positive. The Worden T2108 indicator is now down to 31%, in bear territory for NYSE stocks.
So, what to do? I took some funds off the table today. Why try to be a hero when so many of the banks and large financial stocks and the dollar are in trouble? Look for a put/call ratio (1.03 Wednesday in IBD) well above 1.0 for a short term bounce.