Thursday marked the first day of a new QQQQ short term down-trend. And I noticed that IBD now thinks the market is in a correction. The up-trend lasted 51 days. In the past, short term down-trends have tended to be of much shorter duration. A lot of stocks I watch now have low stochastics and are oversold. In fact, 38% of the Nasdaq 100 stocks fall into oversold territory. So, with this morning’s futures much higher and option expiration coming tomorrow, we will get a bounce here, but for how long? I remain long in my pension mutual funds, but am mainly in cash in my other accounts. I will wait for next week to determine my next move.