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QQQ – Nasdaq ETF (Last:376.59)

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I’ve been drum-rolling the 382.75 bull-market target for so long that I’m hardly surprised to see QQQ rolling down after making an actual high within a quark of it at 382.72. Nor will I be shocked if Friday’s weakness turns into something truly hellish. From a prediction standpoint, the pattern stood to be a good and especially useful one because it is fairly gnarly, and therefore less visible to the herd; and because the droolers and algos who have finally caught on to the magic of ABCD patterns are unlikely to have used the idiosyncratic, one-off ‘A’ that is the Hidden Pivot Method’s secret sauce.  For now, let’s simply watch and enjoy the show, keeping our fingers crossed that we are witnessing the massive coronary that alone can return the stock market to reality and a chance for better health.  If you own put butterflies as advised, or naked puts from the top, cash out half as always if and when they double in price.


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