The GMI (see table below) remains at 6 (of 6) and the markets remain in short and longer term up-trends. When I see so many of the stocks I follow move up together, I become more cautious. The Worden T2108 Indicator has been tracked by Worden since 1986. ( It can be tracked in the TC2000 software or at Freestockcharts.com, by putting in the symbol, T2108.) The indicator measures the percentage of NYSE stocks that have closed above their average price over the prior 40 days. I have drawn in lines in the chart showing extreme values that the T2108 tends to reach. The indicator acts as a pendulum of the market. When the T2108 gets above 80%, the market up-swing is nearing the end and when it falls into single digits, the market is near the end of a major swoon. The monthly chart below shows that the T2108 is now almost 84%, in topping territory. T2108 rarely reaches 90%. If the indicator rises from here, I will tighten stops and look for a top. When the T2108 is below 10%, the snap back is quick and sudden, but at the other extreme, it takes longer to reverse, so we may have some time to adjust to a top when it comes.