Day 1 of new $QQQ short term down-trend, GMI=1

GMI1/6
GMI-21/8
T210831%

After 63 days, the QQQ short term up-trend has ended. Note that since 2006, about 40% of new down-trends have lasted less than 5 days, so a new up-trend could still occur this week. With put/call ratio at 1.06 on Friday, we are not far from very oversold in this contrarian indicator. With the QQQ below its lower 15.2 daily Bollinger Band, we should get at least a regression to the mean soon. The GMI is at 1 and could flash a Red signal with another weak day Monday.

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