The Nasdaq 100 Index, as measured by the ETF, QQQQ, looks as if it started a new short term up-trend. However, with the key moving averages being flat, I don’t trust these signals yet. But I remain vigilant for signs of a turn. There were 9 new highs and 107 new lows in my universe of 4,000 stocks on Wednesday. Interestingly, 60% of the Nasdaq 100 now have their MACD close above its signal line, the most since January 9th. A rise of the MACD above its signal line often occurs before a trend turns up. Four stocks at new highs were on my IBD100 lists: HMSY,MYGN,SXCI and CEPH. These stocks should be watched for possible leadership in a sustained rally. Meanwhile, the GMI and GMI-R increased on Wednesday. I prefer the GMI to be above 3 before I take large long positions. I remain mainly in cash.