Wednesday’s relief rally in the Qs was a joke. You just know it. I pulled up the Qs yesterday afternoon and before I drew a single line I’m like, I bet you this thing is sitting on a Fibonacci level right now. I’m not fibbing. I see Fibonacci everywhere, and as you guys know I’m from Planet Palm Tree so I’m not even from this world. So I pulled the fib. And there it was… The Qs ran right back up into the spot they broke on Friday and got slapped. Everybody saw the Dow up 3% and called it a bottom. I saw a retest, and there is exactly one level on the Qs that tells you which of us is right. One thing first, and I promise I’ll only say it once. The longer a market consolidates, the more likely it drops. The lower it sits inside that

All eyes are on the Qs today and I get it. But if you really want to know where it is headed, you want to pay attention to the thing that drags it around. One ETF trades so close to the Nasdaq that a lot of traders call it the tail that wags the dog. Last week it gapped down, sold off hard, and bounced. That bounce is the setup. And yesterday the setup fired. A pattern can show up on a chart all it wants. It isn’t a pattern until it’s triggered. This one triggered. I measured where it goes next two different ways, and the two answers landed 10 to 15 points apart. I got the same answer twice. Now we’re in the storm. In the video I show you the ETF, the support it’s sitting on right now, and the level I’m looking for on the next

Okay so listen, Garrett Baldwin had me on Midterm Money Live this morning and I’m looking at this chart and I’m like, you guys, we’ve been here before. Last year, same spot, bottom of the box, market went nowhere for weeks and everybody’s thinking it’s just consolidating to break to new highs, that’s normal, and then Iran happens and it takes the market to the kneecaps. We’re back in that spot the day before the vote, and I don’t care if we’re near all-time highs. We are in a very soft spot and it needs a catalyst. Tomorrow might be it. If you think we’ve had selling, guys, you don’t know what you’re in for. I told Garrett what this morning’s bounce really is (my cat’s involved), the one spot on the Qs I’m watching into tomorrow, and why none of it scares me. Give me all the catalysts you