QQQ In depth Forecast for 12/6

I have revised my last forecast after looking at the QQQ weekly. People look at the chart and decide that its time for the drop. I actually think that we may have a week or two before that occurs. Why is this? The underlying foundation. Lets take a look at the Weekly QQQ that our day by day cubes are based on:

First, lets take a look at the ADX indicator at the bottom. You can see that each time the ADX has peaked (circle marking those two times) look at its corresponding position on the daily candlestick chart right above it by drawing a line directly up above it with a ruler. Every time it peaked, there was a sudden change in direction. This shows that we may have another week or so of chop or slight climbing to the upside. The macd is about a week outside of top position as well.
The RSI definitely shows us that because of the divergence it is displaying, that there IS going to be an upcoming drop. Divergence is when the Rsi is going one way and the chart is going the other. The RSI is always the foundation of the thing, and the chart always eventually turns and once again follows the RSI. Now, we take a look at the daily QQQ:

So what we have here an immediate closer snapshot of the weeklys. The ADX is showing that due to its high point, a change in direction is imminent. Also, look at the volume on the bottom underneath the candlestick chart. Every time there is a drop in price, the volume starts to pick up. It even starts to broadcast that there is going to be a change in direction/drop because the volume starts to increase. When the stock is climbing, the volume drops. It shows that people are very into fear and greed. They fear when it drops, and they greedily want in at pullbacks. But no one wants to sell when it is climbing, so the volume drops. The MACD is at the top, and the RSI is doing something interesting as it scrapes along the ceiling. It shows that there is a bit more room for upward movement.

My READ: Based on the Weekly and the Daily, we got about another week or two before things fall apart and we start having some big down days. You can play around in the field for about another week but no long term moves. In all actuality, now is the time to buy a put on the QQQ at the money about 4 months out. Seeing that there will be a drop, I am going to purchase some March QQQ puts:

QQQ Mar 2015 109.000 put (QQQ150320P00109000)

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5.63 0.00(0.00%) 3:49PM EST

Prev Close:	6.32
Open:	5.58
Bid:	5.50
Ask:	5.65
Strike:	109.00
Expire Date:	20-Mar-15

Day's Range:	5.58 - 5.63
Contract Range:	N/A - N/A
Volume:	82
Open Interest:	183

I got it about 1 more dollar up than its current price, because I feel that its going to rise a bit, chop for a few days, then drop. Thats all for today, come back this weekend for a watch list on some stocks for Monday.

Stay Frosty,
Mark