A Curious Case of Price Rejection?

Although I placed a QID trade on Friday, there is reasonable evidence to suggest a bear market rally. The chart below shows price rejection of the November low with lighter volume. The November low was 1295.48 while Friday's low was 1293.85 with a 1268.54 close.



Stocks that make up the Nasdaq were beaten down but would not stay down. The possibility exists that a short term bear market rally could rear it's ugly head. Knowing that, I have put a straddle on by keeping the QID trade in place but also putting a QLD buy stop a couple of percentage points above Friday's close. I am still playing with extra CMI capital so I'll try to use it to increase the year to date gain while the CMI decides what it wants to do.