Yes, went home long still looking for at least that min. bounce target zone but not married to it or anything right now, ready to pivot again on short notice, should the charts tell me to. /NQ hit & reversed off that final near-term (T6) price target & closed above it and the majority of market-leading stocks held above those key ‘blue line’ support levels I’ve recently been highlighting. As such, nothing changed since the mid-session update.

Of course, the market & those key stocks & sector (such as XLF) tested today & remain just a hair above, so stops in place in case anything wonky happens tonight.

@randy, you still expecting this to bounce? rallied faded into the close.

Purple circles on this daily chart show the recent oversold (below 30 RSI) reading on ORCL & you can see what followed. Of course, oversold in a bull market is typically brief, while oversold in a bear market often becomes ‘more’ oversold and/or stays oversold for an extended period. Only time will tell is this oversold reading has occurred in the former or latter (bull or early-stage bear market).

ORCL has also fallen to the 200-day SMA today where buyers are likely to step in so I think a tradable bounce is likely right now unless the stock market continues much lower. 190 would come in with that big gap from earlier this year, so yes, an objective entry if & when it gets there, but IF & ONLY IF you can also make a decent case that QQQ is going to go up as well.

Personally, for now I’m treating rallies on most tech stocks as bear market rallies/counter-trend bounces until & unless the recent bearish engulfing candles on the weekly charts of QQQ & SPY are taken out. ORCL max bounce target would be around that 270ish resistance.