Looking at the RSI, you can see the QQQ was clearly over extended. I would call this a healthy sell off, but just to be sure look for the qqq to test its double support in the 274-277 range. The RSI is also currently holding resistance. Any decisive break past the SL’s and we can expect a fall all the way to the long term support of around 205-215. Another major sell off tomorrow would cause me to take a medium term short position. A bounce on the other hand would be indicative of market strength.
