18th day of $QQQ short term down-trend; bounce likely

GMI0/6
GMI-20/8
T210843%

With the put/call ratio on Thursday at 1.19, there will likely be an up day on Friday. Also, the major market indexes I monitor all bounced up from their lower 15.2 daily Bollinger Bands on Friday. Check out this daily chart of the QQQ. With the GMI at 0, I remain in cash and a little short.

Screen Shot 2016-05-19 at 9.01.16 PM

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