With just about all of the leaders having been shot down, it remains to be seen if the rest of the market will follow. In cash and short.
13th day of QQQ short term down-trend; bounce coming?
10.4 daily stochastic for QQQ is very oversold (at 7.66, see chart below) and put/call ratio has been high. Bounce may be coming but I am content to wait on the sidelines, mainly in cash or short. I will re-enter market on long side only when QQQ short term trend turns up.
12th day of QQQ short term down-trend
I remain short and mainly in cash in my trading accounts. There were 122 new lows and only 47 new highs in my universe of 5800 stocks.