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The short story here is that the markets have now reached downside exhaustion again according to the DeMARK indicators. I'm seeing multiple timeframes start to come together to signal a possible turning point coming into the market.
Weekly 9 buy setup on SPY coming in.
12/13 on the daily TD Sequential count
QQQ 240M TD Sequential 13 and combo 13 on the next bar
I think its time to start playing into a short-term bounce, based on the readings on DeMARK here.
How to trade this? I'm not eager to just buy the hole into the close. I think European liquidity gasps from the risk-off move in bunds or something will be the signal overnight to try longs. Wait for some kind of puke overnight and us a reasonable stop. Remember, when the market is like this, that is when ALL of the bad left tail moves happen. Don't get married to being long if it doesn't work quickly.
I covered most of my AMC short today but this trend looks like it will continue lower.
ARKK is now at the support spot we have been waiting for.