Getting very short term over-sold with T2108 hitting 12% intraday. Would like to see single digits for a true bottom. But P/C ratio at 1.07 suggests bounce likely.
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Blog Post: Day 19 of $QQQ short term down-trend; 1504 new lows; $TSLA back below green line– failed GLB
When a stock has a failed green line break-out (GLB) it often portends more weakness. See weekly chart.
Blog Post: Day 17 of $QQQ short term down-trend; QQQ could be close to support, see weekly chart
Maybe QQQ will bounce up off of this trend channel line–thank you Vas! I drew this line weeks ago! This is a Stage 4 down-trend. No time for me to buy and hold.
