The GMI and GMI-R remain at zero and the Worden T2108 indicator is at 2%. In spite of the decline on Wednesday, there were only 347 new lows (and 1 new high) in my universe of 4,000 stocks. Compare this with over 2,000 new lows for each of three days last week. This means that in spite of the declines in the averages, most individual stocks are not as low as they reached last week. It will be interesting to see if the number of new lows is contained again the rest of this week. The media pundits got it wrong again. On October 19, 1987 the Dow fell 22.61% (-508), a far cry from Wednesday's puny 7.87% (-733) decline. Meanwhile, I (and you?) comfortably watch this market from the sideline, almost totally in cash.