BULLISH TRY

I am going to try an upside trade on the QQQQ as the markets seem a little overdone to the downside. RSI (2) on major market indexes:

QQQQ 7

SPX 10

DJIA 11

OEX 11

NAZ 6

RUT 7

MID 6

A quick check of the short term moving averages of the NAZ internals also showed the market to be a bit overdone to the downside.

VXN up about 7% and brokers out performing so an upside try seems reasonable. Scaling in some now, more near the close and maybe some for later in the week.