By my definition, the QQQQ up-trend ended Wednesday, after 52 days. A new short term down-trend has begun. I own some call options on TYP, which rises 3X as much as tech stocks fall. If this down-trend lasts 5 days, I will begin to add to my position in TYP. It is still possible this decline could end in fewer than 5 days, so I will wade in slowly. T2108 is at 38%; as it gets closer to 20% I will look for a bottom. The longer term trend (weekly) of the QQQQ remains up.