The short-term model of the Nasdaq is just a hair's width from oversold as I type. Based off of a few post-FOMC meeting studies and the gap support from Tuesday, I think this oversold signal has a good chance to work well.
Trade Recommendation:
Buy QLD before the close today or tomorrow morning with a limit order of 27.00. Current price is 26.74 which I will use to track the trade.
Pete
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