QID Presenting Bullish Divergence

I'm not calling a market top here folks. I would just like to point out that short-term the QID is severely oversold. A buy at these levels, with a stop under 47 and a target price around $49.50 provides a pretty good risk to reward ratio of 4:1. The target price will bring the QID back to its mean, and a prior support level.

***Update*** I'm putting my money where my mouth is. As you know, I'm trying to quantify my trades so that I can test what is working. I'm taking this trade as a bottom feeder setup, as the ETF is making new lows, but the MACD is not confirming the price. Furthermore, the Stochs are extremely oversold. My stop is below $47, and I will look to take profits above $49.00 I'm now long 200 QID @ $47.50