The GMI increased to 2 (out of 6) and the GMI-R to 4 (out of 10). 
Thursday was the 14th day in the current QQQQ short term down-trend (D-14). Both the QQQQ and the SPY remain below their 10 week averages. I have the best chance of making money going long when these indexes are above their 10 week averages. My short term indicator, GMI-S, is now back to 50% after being zero for ten days, through Monday. Interestingly, the daily MACD’s for the indexes and many leading stocks have had a bullish crossover. While there has been some improvement in the indexes I follow, it is not yet enough to convince me that the trend has turned.
GMI: 1; GMI-R: 2; Trend is still down.
The GMI is still one but the GMI-R rose to 3. The Worden T2108 indicator rose to 26%. While this rally is impressive, it has to go further to change the trend to positive. The QQQQ short term down-trend is in its 13th day. There were 70 new highs and 66 new lows in my universe of 4,000 stocks on Wednesday. I need to keep an open mind in case the trend turns up. Never fight the tape–or the Fed.
GMI:1; GMI-R: 1; Worden T2108: 15%, up from Monday’s low of 13%
The GMI and GMI-R are both back to one. The QQQQ climbed back above its key 30 week average. However, the DIA, SPY and the COMP remain well below their 30 week averages. The Worden T2108 indicator is at 15%; at the low last August it was just below 8%. The one bright spot I see in the Nasdaq stocks is that the leaders– RIMM, AAPL, BIDU, ISRG and GOOG appear to be holding up. Still, there were only 25 new highs and 359 new lows in my universe of 4,000 stocks on Tuesday.