NASDAQ Forecast for Tues

In looking at the QQQ chart:

We are seeing two conflicting things. First of all, the cubes are channeling downward in a new channel since July 20th. Second of all, the Williams is almost topped, showing little room upwards. Most of all, look at the top Aroon indicator. Even though we had a up day, this thing is maxed with a red line, which means down in price. However the candles are showing positive gain, but without bottom tails. Ill give this about a 75% of drop and a 25% of rising tomorrow.
I placed some trades on this....I bought a SPY put because SPY looked a little more topped out indicator wise than QQQ did. I also bought QQQ calls that were just outside the money to roll with in case there is a rise.

So: Most likely down tomorrow regardless of the white candles.

Stay Frosty,
Tradinginsider