QQQ Update

There's a lot to watch here so I kind of feel like a 1-legged man in a butt kicking contest. Here's the Q's update.

 QQQ 1 min showing a negative divergence, remember, they needed some strength to sell in to.

 It has migrated to the 2 min chart as well, we are near some resistance, but I would start to consider maybe adding looking at starting some positions in some inverse ETFs, like SQQQ, although at this point I would not go huge, but I would consider starting to add. It remains to be seen how options expiration will effect everything.

 The 5 min is starting to see a negative divergence as well, it's not horrible, but we know they are selling in to strength.

The 15 min suggests we could see further upside, although the Q's have put in quite a gain for the day. Note resistance in the red area. If you start phasing in to short positions, make sure your risk management allows plenty of room to add should we move higher which right now feels like it is not probable, but that is feeling and we want to look at hard data. The 15 min chart suggests more upside.