Something is very weird right now. And it would be a little more obvious how bad this is looking if it was not July. Let's just cut to the meat here. This does not look good. The Qs are breaking down. They are breaking down, guys. SPY had an ascending wedge and that gave out too, so both have officially broken down. On what, though? I seriously don't know. I don't know if it's a front run of tech earnings, I don't know if it's Iran, I don't know if it's the Fed. But there's one thing in the volume that tells me this is real. I'll show you the exact spot where people started figuring it out, and how far I think it goes. Somebody asked me today that the market looks like it's getting ready to drop. Honey, it's dropping. It's dropping. That's the thing about doing this

This is telling me the market is bracing for harm. It's predicting that there is bad news out there, and we have not received that bad news yet. And think about when this is happening. It's July. The hedge fund guys are in the Hamptons drinking rum, they're not sitting at a desk dealing with this. You don't get volatility like this in the summer, usually. Somebody's positioning for something instead of responding to something. Now, whenever I catch myself getting a little too sure about a read, I go do this. I pull up the Dow. I never look at the Dow. But every news channel out there references it constantly, which means a whole lot of people are forming their entire opinion about this market off that one chart. So I put it up, and it's doing the opposite of what SPY and QQQ are doing. One of

My family is a bunch of business lawyers. They were very upset I wasn't the Harvey Specter of the group, although that would have been really cool. While other kids were getting coloring books, my dad sat me down in front of contracts and made me find the loopholes. I'm not kidding. At seven years old. I hated it. And it is the single most valuable thing anybody ever did for me, because it gave me the one thing this job actually requires. It gave me the mindset of just staring and looking. Not scanning. Not glancing at a chart for two seconds and deciding. Sitting there and looking at something until it starts telling you what it is. Finding the thing in the document that everybody else skipped over, because they were reading fast and I was reading slow. That's it. That's the whole skill. I just happen to