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The GMI-R rose to one on Wednesday.   The QQQQ completed the 9th day of its short term down-trend.   However, the QQQQ is just below its critical   moving average.   A rise from here could turn the short term trend positive.   The market seems able to hold up under a flood of bad earnings.   So, the selling may be done for now.     This appears to be a time of considerable back and forth in the market.   I remain mainly in cash.

Only 2 new highs (AVAV and ASEI) and 192 new lows in my universe of 4,000 stocks on Friday. The QQQQ completed its 7th day of the current short term down-trend. The prior QQQQ up-trend lasted only 24 days and did not deliver much of a rise. GMI0123 Only 20% of the Nasdaq 100 stocks have an MACD above its signal line. The T2108 indicator is at 40%, well within a neutral zone. I see no signs of a bottom. In fact, things look pretty much in a solid down trend. I remain mainly in cash.

There were 7 new highs and 131 new lows in my universe of 4,000 stocks on Thursday. This is not the time to buy growth stocks at new highs. I remain mainly in cash.