All of my indicators are negative. I will be 100% cash in my trading accounts after option expiration this weekend. All of my put protected positions will be assigned at higher prices (the original strike price) to persons who sold me the puts. T2108 is at 19%, heading towards the extremely oversold area where bottoms occur. If it gets into single digits, I will look for a bottom.
All indicators negative; 17th day of QQQ short term down-trend; mild decline thus far
I remain in cash and hedged. No bottom is in sight. As the chart below shows, the shorter term weekly averages (red lines) are just starting to touch the longer term weekly averages (blue). The current weakness is far less than what occurred last year. Note that in the sustained bear market decline in 2008, the shorter averages were consistently below the longer term averages. We are far away from that pattern. Click on chart to enlarge.
Dead cat bounce?
It will take a while to see if the rise on Tuesday was more than a dead cat bounce. Tuesday was the 16th day of the current QQQ short term down-trend. I remain in cash and hedged.