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.