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While the GMI barely held to 6, the more sensitive GMI-2 fell to 3.   Another flat or down day in the QQQ will change its short term trend to down.   The QQQ daily 10.4 stochastic is in overbought territory at 84 and has crossed below its longer term average.   Over the past few months, this pattern has signaled the start of a decline.   See the chart to the right. The Worden T2108 fell to 44%, but is still in neutral territory. So, I lightened up yesterday on QLD and bought a put on one stock. IBD still considers the market to be in a correction and suggests staying in cash. Only two stocks came up in my good fundamentals+new high scan:   ASPS and GNRC. ASPS broke $50 for the first time.

Cautiously long with QLD.   I am more sure of a QQQ short term change in trend if it reaches 5 days. Six stocks came up in my new high and good fundamentals scan: MMP, OKS, ASPS, GNRC, INTC, SMP.

The GMI is back to 6 and a new QQQ short term up-trend has begun.   I was stopped out of FTNT on Tuesday but MELI is holding.   Meanwhile,as this daily chart shows,   ASPS just doesn’t quit!