Blog: Day 12 of $QQQ short term down-trend; there was a blue dot oversold bounce on Friday setting up the recent rally, see daily chart; the GMI flashes RED.

Note the oversold bounce on last Friday signified by the blue dot. This is the earnings release rally I had been expecting. But there were only 83 new highs and 30 ATHs, very pitiful. The post earnings release period wlll  be very interesting, if not scary. Note that the GMI has flashed RED.