Monday was a relief rally, in my opinion. Listen, I know how good that green felt after the week we just had, and if you bought that rip thinking the bottom’s in, this one’s for you. QQQ already broke support, there’s no volume support underneath it, which means nothing is sitting there to catch it if the selling comes back, and the market sold off right into the bell Monday. We have not had the head-for-the-hills moment yet, and when it comes it has a tell. I’m going to show you exactly what it looks like so you’re ready to trade it when it shows up instead of getting caught in it, plus the two mornings this week that could set it off. QQQ was in a vulnerable situation, now it’s in a dangerous situation. The S&P is still in the middle of nowhere, it keeps flirting with the bottom

A week ago people were calling for a Black Monday. I thought it was too soon. Largely because the Qs were still inside the box they’d been bouncing around for weeks, and the box had a floor. So the Qs went nowhere on Monday. However, yesterday they got destroyed. The Qs broke out the bottom of the box and SMH hit the target I sent you Tuesday. Friday morning they bounced. But now there’s no more floor. I don’t want to doom and gloom this, but a bounce like this morning is not what a bottom looks like. We need one gap down and then a follow-through, which makes me believe is what we see on Monday. It’s 50/50 right now. One thing in today’s close moves it, and I’ll share it with you. Thursday SMH, the semiconductor ETF, hit my extended target. That’s the spot a measurement says a

Man, what a prediction. What a move. Tuesday I sent you a video on SMH, the semiconductor ETF, and told you two measurements agreed on where it was headed. A bear flag that triggered October 30 and a fib extension, both pointing at the same spot. Today SMH dropped more than 10% and landed right on it. The writing was on the wall. We traded it in The Close and made some bank overnight. If you took it on your own, write in and tell me what you made.   Now the question is what’s next, because we hit the extensions and the fib has nothing left under it. The moving averages are cleared. So I pulled up a third tool, and it shows a zone under here with nothing holding it up. I’m looking for one more big leg. In the video I give you the target, how far