Blog Post: 312 new US lows, most since 334 on March 20; IBD called Market in Correction yesterday; Daily chart shows $QQQ bounced right where the TCL predicted–but will it hold?

The trend channel line (TCL) in the daily chart below predicted Monday’s bounce. QQQ also bounced up off of the 15.2 lower Bollinger Band, designated by the green daily bar. The next rally could take it to the descending trend line. The TCL must hold, or look out below……