Both of my General Market Indicators are zero again. There were 3 new highs and 189 new lows in my universe of 4,000 stocks on Thursday. This was the highest number of new lows in the past 7 days, but was far less than the numbers reached in the prior decline (over 1,000 new lows per day). I therefore remain mainly in cash with a few short positions. The key to the short term is whether the QQQQ (now at 30.59) can hold these levels and rally to close above 34 in the next few days. A strong rally from here would be very bullish. However, trend followers follow the trend and do not act until a reversal has occurred.