QQQ Update

I'm getting the feeling 1 of 2 things is happening, based on how fast the AAPL 1 min went positive yesterday (extremely fast and deep), there's some sort of AAPl earnings leak that is bullish for AAPL and thus the Q's or 2) as I said, whatever the earnings are, Wall St. will create the sentiment and the market will trade up based on that, fill the Q's gap and maybe some.

The 3rd thought I'm having is I'm glad I have started and nearly finished the longer term, equity core short positions, whichever way this goes in the near term because there's very little dispute with the big picture that is as about as close as it can be, perhaps so close that it's not visible (like standing 4 inches in front of a big screen tv).

 First here is the 1 min QQQ chart, you can see where the stops were congregated, it would make for a great head fake move, "if" the intention was to lift the Q's near term, which is what I've thought since Sunday night.

The NYSE TICK chart is BARELY NEGATIVE at -500?!?!? What the Heck? You'd think with price action like that it would be -1500.

The QQQ has an interesting range doesn't it, it's somewhat disguised as a H&S top, although it is no where near that formation, many traders would interpret it as that because they have no idea what one is.

However the range is what is really interesting, is it camouflaged?

 QQQ 2 min just went positive today, hasn't seen much damage, a short term chart like this goes positive right before a reversal move.

 QQQ 5 shows the leading negative is the big picture, but the 5 min short term has held up pretty well.

This is the bigger picture and ultimately where I want core shorts positioned.

 Just look at the SQQQ 10-15 min leading positive, but still that gap, otherwise it's nearly perfect for a longer term position.