The GMI is at 4 (of 6) but the GMI-R is just 5 (of 10), indicating that my short term and most sensitive indicators are weak.
The QQQQ is in its 44th day of its up-trend, which is in serious risk of faltering. A close of QQQQ below 47.77 will likely bring the GMI down. The stocks represented in the SPY and DIA index ETF's are seriously weak already. There were only 23 new highs and 88 new lows in my universe of 4,000 stocks on Friday. Less than half (48%) of the Nasdaq 100 stocks closed Friday above their 30 day averages. This is time to place close stops and to consider moving from QLD into QID. I am also considering buying puts in my IRA on some declining stocks. This week should tell whether the rise from last March was just a bounce within a larger down-trend, or indicative of a true bottom.