The GMI is back to 6, but be careful. Only 18% of the Nasdaq 100 stocks rose on Thursday, along with 37% of the S&P 500 and Dow 30 stocks. 
There were 182 new 52 week highs in my universe of 4,000 stocks. And Thursday was the 7th day in the current QQQQ up-trend. But when IBM, MER and AAPL announce good earnings and their stocks weaken, it is an ominous sign. The GMI-S fell 19, to 69. None of my 4 short term indicators for the small cap stocks (IJR) are positive. The IBD 100 type of growth stocks are also underperforming; only 13% of the list from 12/18 rose on Thursday and only 42% closed above their price on 12/18.
I was stopped out of QLD and ATHR today. I will consider buying the ultra inverse ETF for shorting the QQQQ (QID) if the GMI weakens. Right now this market looks sick, although the trend has not turned down yet. See my disclaimers on my prior post.
