The markets are probably real close to an oversold bounce at current levels. The QQQ closed below the lower Bollinger band on lows which has historically been a bullish setup. Details here. Also the 3 day RSI on the QQQ closed below 15 which has historically been bullish for a market bounce. Details here.

Gold stock trading strategy. Since 1985 ,$100 would have compounded into $7,070 a 17% annualized rate of return with a maximum drawdown of -33%. As a comparison a buy and hold in the XAU would have grown $100 into $256 a 3.6% annualized rate of return with a maximum peak to trough drawdown of -71%.

This performance report is based on the 2 "improved" rules listed above, this report is based on taking a $10,000 position in the SPY for each signal since 1988. There have been 380 signals since 1988 and 236 have been winners for a 62% win rate. The average trade made .59% , a compounded return of 745% which is 9.51% per year.