At this point it looks as if the gain on this sell signal will be quite small. QQQQ has been losing momentum and becoming more oversold with little downside price action. It is likely that we will have a buy signal by the end of this week.

A break of the 49.70 area in QQQQ should bring the ETF to the lower horizontal support area of 49. There is no support between 49.70 and 49 so we assume that a break of 49.70 should result in a quick and powerful move to the downside. At this point we feel that the 49 area will be the stopping point on this sell signal. If this is not the case, the next significant support area is 48 and the rising 50 day moving average.

SMH is in a similar situation. A downside break of 39.70 should bring a pretty quick move to the 38.70 area. Lower support is at 38.30 and the 50 day moving average.

IWM is up over 2% since our system triggered the most recent signal of sell. We feel that the 82.60 area (yesterday's low) will be easily broken and result in a move to the 81.80 area. This ETF will most likely be our highest performer this sell signal.

It looks as if our system could trigger a buy signal by the end of the week. If this is the case, the result on the current signal will be small, but we will be prepared and ready to jump back on the powerful long-term uptrend.