Long Answer: The market is just channeling down blowing off steam. The big crash is going to come next year. Lets take a look at the charts:
First we start with the QQQ daily chart:
Oh man, that is NOT good. Thursday's candle touched the red line 200 moving day average and it dropped so severely that its almost breaking its own channel. Plus the candle is so severe (long with almost no tails) that it looks like things are just going to keep going down. I do not see a bottom yet. Wow.
Lets take a look at the weekly:
Yup. Its a blip down, like in the one that I circled earlier. People are thinking that this is it. Nope. What IS gonna happen however is a down week for a good part of next week as well, and at some part of next week, maybe wed-thurs there is going to be a bottom candle like we see in that first box to the left in the weekly and then things will keep going up from there,.The big one? Not until next year so chill. By next year you will be protected by put leaps. I am thinking put leaps on the main ETFs., and some blue chips like Apple and Google.
More tomorrow,
Tradinginsider
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