My oversold indicator count is now 4 out of 4. I am looking for a bounce. For example, the T2108 is at 19%, heading towards an area where a bounce might occur and the put/call ratio was greater than 1.0 at Wednesday’s close. I am still in cash and a little short. Since October 8, the first day I identified a new short term down-trend for the QQQ, the QQQ has declined -8.9% and SQQQ (3X inverse ETF for QQQ) has advanced +29.9%. Since the GMI flashed a Sell signal on October 22, the QQQ has declined – 5.7% and the SQQQ has advanced +18%. Clearly the short term down-trend signal provided a better entry, but it is less reliable than the full GMI based signal (I think so but have never tested this hypothesis). The leveraged index ETF’s perform really well when I catch a multi-week trend move. However, they can reverse quickly.