P/C ratio= 1.22 and $QQQ below lower Bollinger Band–expect a bounce

GMI1/6
GMI-20/8
T210825%

With the put/call ratio an extremely bearish 1.22, I expect a bounce on Wednesday. Also, note that on Tuesday the QQQ traded below its lower 15.2 Bollinger Band. The four most recent times it has done so, shown in the daily chart below, it was at a short term bottom. Check it out.

screen-shot-2016-11-01-at-9-21-13-pm

 

 

 

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