NASDAQ:QQQ POWERSHARES QQQ TRUST
Beyond 2 exponential Standard deviations, and oversold. The current candle is a . Based on this basic technical view it seems that sellers are finding a growing number of dip buyers. When Contagion from global markets move aside, this should make a nice rebound. But at the current time, I will not say to go long or short as fear is a powerful and difficult to predict emotion.