QQQ Charts

This one is looking interesting as well, somewhat similar to the early stage 4 volatility shakeout we saw from the IWM last week (staging relative to the February 5/6th rally).

 Note the initial signal that I was looking for after 2 p.m. on Friday as the 3C signals almost always pick up where they left off the next trading day, even if it's a long 3-day weekend.

You can see the initial positive divegrence Friday afternoon starting around 1 p.m., but picking up in to the 2 pm hour through the close, this is what this entire post was about on Friday...Looking Forward to Next Week and these signals have been very accurate for us, calling the accumulation before the Feb. rally, the head fake move before the rally setting up more accumulation, calling the rally and stage 3/top as well as today's action almost if not, perfectly.

Here's the 2 min chart, the reason I suspected and wanted to see a lower low below Friday's afternoon lows is because it hits stops and triggers short orders, boith of which create supply that can be easily accumulated by institutional money, that gives us higher probabilities, better entries, less risk and a strong timing signal as head fake moves (scaled appropriately for the timeframe you are looking at or trading) are excellent timing markers as they occur just before a reversal in most cases.

 The 3 min chart continuing to build a larger positive divegrence, this is still small in the scheme of things and speculative. It doesn't matter if the reversal process is a "W" or a "U" shape, just as long as there's some lateral movement creating a reversal process as they tend to be a process, not an event.

Here we have a solid leading negative signal on a 5 min chart taking the Q's lower and a solid 5 min leading positive, this should take the QQQ calls higher.

We even have 10 min signals with a recent positive, so the Q's have a fairly strong (for the short duration of this micro stage)  signal and thus are attractive over several other assets.

You also have the benefit of liquidity in the leveraged ETF products like QLD or TQQQ if you prefer to stick with equities.

I need not remind you that any upside is speculative, it's just a hitch-hiking trade and the real probabilities remain with charts like this 4 hour which is clearly showing massive distribution and particularly so at the Feb rally's stage 3 area.