GMI: 1; GMI-R: 1; Still in cash

This is the type of market that one should not fight. I remain in cash.  The GMI and GMI-R are each one.  There were 37 new highs and 361 new lows in my universe of 4,000 stocks on Thursday.  This is not the time to bet on a stock hitting a string of new highs.  The exception is commodities.

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