The market did a massive correction today especially the DOW almost a 600 point spread from the low to high on BIG volume. This is still a bear market but were in a short bounce. Below is the QQQQ on a weekly. As you can see the price is now touching the lower trend line for the past 3 years. We retested the week of March 5, 2007 - went under then over which is good. We should see an upward bounce for at least a week or two….or at least until the FMOC meeting next week. The street says they will cut rates by about 75 points again.

The QQQQ may bounce up to $46-$48. Then short it again.