GMI: 5;GMI-R: 7; Split market continues

The GMI fell to 5, and the GMI-R is now at 70%. There were 351 new lows and 133 new highs in my universe of 4,000 stocks on Friday.  Meanwhile, the Daily SPY Index has turned negative even as the QQQQ remains in the 46th day of its current short term up-trend.  10% of the Nasdaq 100 stocks rose, somewhat better than the 3% of the S&P 500 and the Dow 30 stocks. But the Worden T2108 indicator is now 42%, the lowest level since it topped at 82% on October 5th. This pendulum of the NYSE stocks is now heading towards bearish territory and does not typically bottom out until it declines to below 25%.  Nine stocks from the IBD 100 list published on October 15 hit new highs on Friday:  FMCN,BIDU,CTRP,CLB,ABB,TEF,HDB,HMSY,SYNA. But when I look at the industries represented in the new low list, I am struck by the major weakness in housing, bank and apparel stocks. How long can the techs buck these trends? I am still holding QLD, but will sell out if the GMI falls below 3. 

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