Well, the QQQQ finally closed below its 10 day average for the first time since February. The GMI and GMI-R are now down from their peak levels. However, the QQQQ short and longer term up-trends remain intact–for now. The Worden T2108 Indicator is now down to 66%, the lowest reading since March 1st when it was recovering from the February decline. At that bottom, T2108 fell to 22%. No one knows how far this decline will go. The key is to move stops up on my longs so that all of the profits from this incredible rise are not given back. As a hedge, I do own some call options on GLD and TYP.