For a market to bottom, enough people have to become confident enough to hold stocks during a prolonged new rise. Most bottoms have to have a successful retest of the lows to help build that confidence. A lot of people missed getting out before this recent carnage. They will likely sell as the market bounces and we may then get more of a decline. In my lifetime bear markets have lasted about 10 months. We are likely in the early stages of this decline. But no one knows for sure. Bottoms are declared well after they are in place.
8th day of $QQQ short term down-trend
The GMI gave a Sell signal on December 10. There were over 1,000 52 week lows on Wednesday. The T2108 is at 10%. Significant bottoms have occurred when the T2108 was in single digits. Stay tuned……