The GMI remains at zero (of 6) and the more sensitive GMI-R at 2 (of 10).
Friday was the 62nd day of the current QQQQ short term down-trend. The Worden T2108 is now at 25%, out of bottom territory, and the highest reading since September 22nd. There were 12 new highs and 21 new lows in my universe of 4,000 stocks on Friday. The last time we had so few new lows was August 28. 82% of the Nasdaq100 stocks have a MACD above their signal lines. So, the market is showing some signs of strength. We are at a key decision point. The QQQQ is close to resistance and will either turn down or break through. Once one of these events has occurred, I will either buy QLD (break through) or QID (break down). My approach is to tiptoe in and accumulate the appropriate ultra QQQQ ETF as the trend continues. I am in cash and have closed all shorts, as I await a definitive signal.