In spite of all of the bad news about raising the debt ceiling, the up-trend continues. With the GMI and GMI2 each registering 5 (of 6), I must respect this up-trend. 
I do not think we would be seeing such buying in GOOG or AAPL if this market were going to enter a prolonged down phase. I began worrying about the tech stocks when AAPL could not go to a new all-time high. But it did so on Friday after consolidating for 20 weeks, and GOOG climbed almost 13% ($68). The bulls are still alive. The Worden T2108 indicator is at 55%, in neutral territory. The QQQ and SPY have spent 3 weeks back above their 10 week averages. And the QQQ now has the strong 4wk>10wk>30wk averages pattern. So, I am slowly wading back into this market.
Thursday was 11th day of QQQ short term up-trend
I remain mainly in cash, but own some QLD, given the QQQ short term up-trend.
