GMI: 1; GMI-R: 2; Trend is still down.

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.

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