Well, it looks as though we have finally found the bottom. I didnt realize it until I looked at the QQQ on the weekly chart instead of the daily chart. The first signal I had that maybe I should look at the weekly chart (This is the chart that showed the bottom signal, the double bottom) was when the crappy jobs report failed to damper the market. Sure, it did at first, but then the market roared and swung 400+ points on over to the positive direction to make a big candle. See the chart below:
The above is the daily chart. Now for the weekly chart:
Here is where the double bottom showed up that I was looking for. It was right in front of my face with the daily chart but it was easier to see with the weekly chart.
So: according to these charts, the correction should be over, and I expect a climb up for a bit as we continue onward and upward.
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