The GMI declined to 4. 
Only 35% of the 248 stocks that hit a new high 10 days ago closed higher on Thursday than they closed 10 days ago. Thus, buying stocks at new highs 10 days ago has not been profitable–a major sign of market weakness. Only 90 stocks in my universe of 4,000 stocks hit a new high on Thursday. 46-51% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced. Only 36% of the stocks from 
the IBD 100 list on 10/16 rose on Thursday and only 28% closed higher than they did on 10/16–this market has been rough on IBD 100 growth stocks. In addition, an IJR short term indicator turned negative, reducing the GMI-S to 44. Thursday was the 54th day of the QQQQ up-trend.
IBD
GMI: 6; Riding QLD
The GMI is still 6. Only 42% of the Nasdaq 100 stocks advanced on Tuesday, along with 45% of the S&P 500 stocks and 37% of the Dow 30 stocks. Still, there were 231 new highs and only 20 new lows in my universe of 4,000 stocks. 
Only 64% of the Nasdaq 100 stocks closed above their 30 day average, down from 88% on 10/16. Only 40% of the IBD 100 stocks from 10/16 advanced on Tuesday and only 9 hit a new high–COGO,CELG,BLKB,AXR, JLL, HRT, BLUD, NVEC,
IAAC. Tuesday was the 52nd day of the current QQQQ up-trend. During that time the QQQQ has risen 10.4% but the ETF that approximates twice its movement advanced 19.8%. Once the up-trend was established, it became very comfortable for me to just ride the QLD.
GMI: 6; GMI-S: 94; IBD 100 stock performance; Put/call ratio: .94
The GMI held at 6, but only 14-20% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Friday. 
There were 258 new highs in my universe of 4,000 stocks. The GMI-S fell to 94, with the weakening of one of the short term indicators for the QQQQ. Still, Friday was the 50th day in the current QQQQ up-trend and the 11th week that it has closed above its 10 week average.
The IBD 100 stock lists that I have been following did a little better than the Nasdaq 100 stocks on Friday. 
22-33% of the stocks in the four lists below advanced on Friday. The list from 10/16 had 14 new highs, but only 43% of these 100 stocks closed higher than they closed on 10/16 when the list was published. The 14 stocks from the 10/16 list that hit new highs on Friday were: HXM,CELG,DRIV,JLL,GRMN,ROG,WCG,TV,SIM,
CTSH,BLUD,WRLD,HCSG, CSH.
Monday’s IBD says that the put/call ratio from Friday was .94. As long as there remains such a high amount of pessimism exhibited by the options players, this rally probably has further to go. Put/call ratios near one are rare and typically occur only after a sustained decline. This is a rally that traders love to hate…..