We got the snap back rally from the extreme oversold level we had on Friday, as evidenced by the T2108 reaching 15%. After Monday’s rally, the Worden T2108 Indicator settled at 31%, well out of oversold territory. and the GMI-R rose to 2, because there were more new highs than lows (48 vs. 6 in my universe of 4,000 stocks). However, the QQQQ remains in a short term down-trend (4th day, D-4) and I remain largely on the sidelines in my trading accounts. When the up-trend resumes, I will wade back into this market on the long side.