With the GMI at 0, I am totally hedged and in cash. Another flat or down day will give me a second day with GMI less than 2, a major sell signal. I did not wait for this confirmatory signal to lighten up, however, because with the GMI at 0, I am ready to get defensive. I may start to transfer money in my university pension from mutual funds to money market funds. I do not like the current market pattern.