Great to see the market recover, however, I had a very strong stat that gives me reason to believe that we will see a significant bounce off the lows from last week. The indicator at the bottom of this screen is the part of the algorithm that records when the price is at an extreme oversold level after a panic.
Historically, this indicator has had a 90% probability of allowing the algorithm to enter a new order to go long and expect this to be at least a short term bottom, and that is exactly how this has played out so far.
Nobody knows how high the Nasdaq can go, but my guess is the QLD will at least be above $90 this week, possibly even today. My entry in the QLD is $85.06, so it’s looking good so far, but hoping for more.
Bring on the bulls!