13th day of QQQ short term down-trend; bounce coming?

GMI1/6
GMI-21/8
T210838%

10.4 daily stochastic for QQQ is very oversold (at 7.66, see chart below) and put/call ratio has been high.   Bounce may be coming but I am content to wait on the sidelines, mainly in cash or short. I will re-enter market on long side only when QQQ short term trend turns up.

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