#1: The PPT is now oversold on all metrics, including TNA and TQQQ. The recent stats point to an immediate bounce (tomorrow) and then possible resumption of the downtrend. This is how the signs has been met over the past 11 occasions.
#2: Remember when I warned you the other day about biotech stocks being filled with asshole momo traders? Well, by the looks at NDRM, JUNO, KITE and many others, they were fucking wiped off the map today. When I posted about biotechs we were at the upper end of the Hybrid score model. Now we are at the bottom part of the range, suggestive of a bounce coming soon.
If we are to accept these signals as valid, and they have served us well in the past, the trade will be to buy biotech tomorrow and the sell it on Tuesday of Wednesday of next week.
Bear in mind, we can still make money trading for the upside in the bear market. Some of my best trades happened in 2008 and 2009.