Timing is everything

So we wait for the next significant action of the QQQ. It appears to be in a coiled spring that is coiling tightly. You can see from the below screenshot that the candlesticks appear to be consolidating into a narrow range and the RSI is also doing the same thing.

When looking at the weekly chart, you can see what the underlying factors for the above are:

Looking at the above chart, you can see that the RSI is descending gradually. It is not so overbought at the tops, deflating in descending order.
A few people could argue that this means strength. How they would see it is, the stock is progressively less overbought and now is earning its trips to higher prices. I marked the descending peaks above as 1., 2., and 3. But I see it as a weakening of the Relative Strength Index. Because if you follow that same deflation downwards, you will see a stock that is dropping in price.

What this Means
The Market is busy sitting around coiling its spring waiting for the first sizable piece of bad news. As soon as this happens, the coiled spring is going to blow, and its going to be to the downside. Watch yourself, and stay out of anything long. This may take a little bit longer than I called last week, but things are definately consolidating and things are going to blow south.
Hold the QQQ puts. Storm clouds on the horizon.

Mark