The GMI declined to 5, and the GMI-S fell 25 to 50. Only 7% of the Nasdaq 100 stocks rose on Thursday, along with 18% of the S&P 500 stocks and 10% of the Dow 30 stocks. Only 14% of the IBD 100 stock list from 12/18 rose and only 49% closed above their price when the list was published on 12/18. Still, there were 253 new highs in my universe of 4,000 stocks. The Daily QQQQ Index turned negative again, but its trend is still questionable. The 30 day moving average of the QQQQ is flat and the index is gyrating up and down along this line. The DIA and SPY are also starting to weaken, however. So, this may be the beginning of a meaningful decline in all of these indexes. The QQQQ is back below its 10 week average, a key sign of weakness. We will have to wait a few more days to see if the GMI weakens further. Now is not the time to make large bold bets in either direction.