The GMI fell back to 3+ and the GMI-R to 5+. Rarely have I seen such volatility. Time to be defensive, and not take big chances. The IBD Growth Mutual Fund Index is now back below its 50 day average. This means that the professionals who manage growth funds are not doing well. The QQQQ is also back below its 10 week average. I cannot consistently make money on the long side when these indicators are weak.