The GMI and GMI-R are back to zero. (Click on the figure to enlarge.) The QQQQ is in the eleventh day of its short term decline. Only 3% of the Nasdaq 100 stocks closed Monday above their 30 day averages. This is the lowest percentage since I began recording these stats two years ago. The fact that the GMI is now zero and that many of my indicators are hitting new lows suggests to me that the market is entering a longer term decline. Anyone who refuses to go to cash and is holding on to stocks should examine his/her motivation. It took me almost 40 years to learn to get out of the market when it is in a confirmed down-trend and to avoid giving up my profits from the prior rally. As the great trader Jesse Livermore used to say, we should fear when a stock falls and hope when it rises. Most unsuccessful traders, he maintained, do the opposite. They hope for a profit when they have a loss and fear losing a profit when they have a gain. Most people holding stocks now are reduced to praying for the market to bail them out. As Livermore once opined during an imminent decline, such persons are now about to suffer amputation without an anesthetic………….