GMI: 0; GMI-R: 0; Most new lows in 2 years; mostly in cash

The GMI and GMI-R are now zero.  While the last two times these two indexes were zero the market bounced, I am concerned that the number of new 52 week lows (783) in my universe of 4,000 stocks on Friday was the highest, by far, that it has been since I began posting over two years ago.  And the Worden T2108 indicator is at 31%, still well above the low levels at which bottoms have occurred.  With all indexes I follow now below their 30 week averages, I think this may be the beginning of a severe market down-trend.  Friday was the second day of the new short term down-trend in the QQQQ.  I was stopped out of most of my very small positions on Friday and remain mainly in cash.  I am not looking for bargains.  This is the time for me to relax on the sidelines. 

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