The GMI is now 3 (of 6) and the GMI-R is 5 (of 10). If Monday brings another down day, my indicators will turn bearish. For now, I wait for the change–I have made many mistakes in the past by trying to anticipate a turn. I find it far better to follow my rules and to sell after they signal a turn. There were 20 new highs and 106 new lows in my universe of 4,000 stocks on Friday. Friday was the first day with more than 100 new lows, since March 20. Many of the new lows (16) involved banks–not a good sign for the health of the economy.
GMI: 4; GMI-R: 6; 13th day of QQQQ short term up-trend
The GMI stayed the same at 4, but the GMI-R lost one, to 6, because there were fewer new highs than lows (33/71) in my universe of 4,000 stocks on Thursday. Still, Thursday was the 13th day in the current short term up-trend in the QQQQ. Seven stocks from the IBD 100 lists I follow hit a new high: MTL, BDE, CF, MOS, ATN, NEU and NBL. Next Friday is option expiration when I hope many of my stocks will be called away.
GMI: 4; GMI-R: 7; 14 IBD100 new highs; Sir Silent Knight
The GMI remains at 4, but the GMI-R fell one to 7. There were 61 new highs and 57 new lows in my universe of 4,000 stocks on Wednesday. 
There were 14 new highs in the several lists of IBD 100 stocks I have followed over the past year: MOS,COG,CF,SCHN,VIVO,HK,
MT,POT,NBL,KWK,NEU, MTL, OIL, MA. Many of these are oil, steel, and agriculture stocks, and have been leaders for months. The QQQQ is in the 12th day of its short term up-trend. The QQQQ and SPY are still above their 10 week averages, so I am still riding this up-trend. But with so many down days, it is getting harder to stay on the long side. For those of you who use TC2007, my Sir Silent Knight submission containing my propositions for trading was published in the Worden Report this evening. Check it out.