GMI: +5; Indicators still weakening

The GMI rose one to +5 because there were more than 100 new highs on Thursday in my universe of 4,000 stocks.  But the short term GMI-S fell to 25.  The Daily SPY Index and even the weekly QQQQ Index are close to turning negative.  My indicators continue to weaken and the QQQQ looks like a head and shoulders top is almost complete.  A close below the neck line, around 40, would signal a serious decline.  Gmi0309 Thursday was the third day in the current short term QQQQ down trend.  Between 27-37% of the stocks in the QQQQ, SPY and DIA rose on Thursday.  Only 28% of stocks are in a short term up trend and for the first time since November 8, fewer than one half of stocks (47%) closed above their 10 week averages.  This is not a time for brave longs.  I am raising cash and/or going short. 

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