More confirmation

It's looking increasingly likely that we'll see a decent upside bounce. If you are a short term trader, you may want to play it, you may also want to take profits in shorts. I'm talking about an oversold bounce here, not a renewed bull move in the market, although it may seem that way for a few days as the market pendulum always swings way too far in each direction.

Here's the QLD (leveraged long on the Q's) and QID )leveraged short on the Q's)-they are confirming each other, suggesting a market bounce.

 Above and below-negative divergences or distribution/short selling in QID 1/5 min timeframes.

 Above and below-positive divergences or accumulation/buying in QLD 1/5 min timeframes.