Weekly Forecast QQQ and watch list for next week

Hey everyone. Next week we are going to be watching two stocks, but first lets talk the Nasdaq, or the QQQ.
First for the daily QQQ. As you can see from the chart below, the daily QQQ will be pulling back a bit for the next few days of next week, barring any big positive news that may come out. Lets look at the chart:

As you can see, the Relative Strength Index and the MACD are dropping. Most of the time when these two indicators drop, the stock follows suite. Now of course news trumps technicals, but if there are no big reports or positive big news, the market will chug along after its indicators.

So I expect the market to correct a bit for the next few days.

Now lets look at the weekly QQQ to see the overall trend for the Nasdaq coming the next week or two:

There is a signal that is showing that there is a top..the most current candle has a longer tail on top which demonstrated that the market pushed the price up this week but could not sustain the push and the price fell making the candle a lower short body with a long tail on top.

So for next week we are going to be using the method where I am looking at earnings at those stocks a few days out. I will be looking for stocks that have bad analysts numbers, numbers showing bad returns and in the red, showing weak against its industry and sector. I will then using these, look for those that have the crowd incorrectly jumping on the stock riding it up high till the stock announces. Then when the stock announces and the price drops, we sell our puts that we bought for a profit.
I will also be posting some news option bounces that I also like to do. Stay tuned for my post this weekend on how I bounce options using the news.

Until Saturday or Sunday when I will post again,

Mark