I just wanted to note the relatively rate occurrence of a completely red index trend table on the General Market Overview page. Just like I become a nervous bull when that table is all green, I'm a nervous bear with it all red. *Some kind of bounce* wouldn't surprise me here -- whether it sticks and doesn't roll over again is a whole different matter.

I like the "Calm After Storm" and hammer(-like) candlestick made today. This has now more than filled its huge post-earnings gap from last week and is trying to bounce off its 200-day moving average.

This is more a broad market comment than a QQQ note. It's obviously been a rough week for the bulls. Today was the worst single day percentage loss for the Nasdaq 100 (QQQ) in 7 years. It's now perched just above its 200-day moving average. At times like these I like to look at the percentage of stocks above their 50-day moving averages, which is plotted on the "General Market Overview" page. The market is in oversold territory when that percentage drops below 25 (or so). It's at 20.59 today, just a hair above where it and the market bottomed in February. So I view that as a sign that the market is likely to snap back soon. Note that this is the same indicator I mentioned in my October 2nd IWM note, when I wrote about the poor breadth of the market. Rallies on poor breadth never matter until they do!

The General Market Overview page told me that there were a lot more Bullish Engulfing patterns today than normal. This is my favorite of the bunch -- 50 DMA support, filled its gap from a month ago, oversold stochastic, Pocket Pivot and it's at the lower Bollinger Band

You know the selling is serious -- and maybe near an end(?) -- when the mighty ISRG gets hit!