Now we can see exactly why I favor what I do... Look how clean that move is. Clearly an impulse down. Meaning wave A ---- next up a 3 swing to the upside for wave B (tomorrow and Friday should be green). I am seeing a 400 retest in the near future... And that is a SHORT THE RIP AT FIRST SIGN OF WEAKNESS. Be smart here though because we should only get 1 more impulse down after we top for b. I see that taking us to an amazing dip buy opportunity.
People say we are in a bubble now -- they know nothing yet, wait until wave 3. QQQ could see 425... By Jan.
How to trade this : On any sign of weakness on the rally up SHORT IT - but wouldn't be a bad idea to have some Jan longs for if the market just goes on a complete run again. Either way - we should see another short opportunity for a wave C - and then its a BTD with both hands.
Just like SPY lets keep watching this, but thinking green to finish off the week. Will update maybe Thurs?