DOwn side continues tomorrow imo…

Thx for sharing!

Good question & @reloaded basically summed it up. I’ve been gradually but steadily shifting my focus to the longer-term (daily, weekly, & monthly) charts for both the stock market and most key sectors, including IAI.

I’ve stated in recent months how one of the earlier signs that a major top (or bottom) has likely been put in but the new bear (bull) trend is still in the early stages is when I start to see textbook-looking bullish (bearish) setups, such as bullish falling wedges, drops to support with positive divergence, etc.(vice versa for bottoms) start to fail by resulting in either a much smaller rally & failure to break above the previous highs…or even worse, no rally at all, with the divergences & support level(s) on the intraday charts (60m, etc.) getting taken out.

With that being said, this is certainly not an “all-in” short moment nor, even a very high-probability short on IAI or even QQQ, IWM, & SPY, for that matter, as the major indices are still holding above their 200-day MA’s & key Oct 10th lows/bottom of multi-month trading ranges.

I do have a fairly high degree of confidence those key support levels are about to give way soon, enough to have core short positions & continue to move more towards a net short overall portfolio exposure (away from net long)

You’ve also might have noticed more & more short trade ideas so far in 2026 vs the last half of 2025, and the longs that I have been posting, such as the recent SEED, have little to no correlation to the major indices.

Daily chart. Both hourly and daily charts have bearish cross overs on the PPO and they’re pointed down. The stock has been down trending and following it with each back test resulting in the next leg down. Horizontal support was tested and failed with currently a swift break of it on today’s candle. There are technically two bearish wedge formations you can chart out, one is short term the other is longer term. The short term T1 is 151.00 and the longer term T2 is 143.89.

Load the boat with shorts. 2.37% stop out above 167.43 for a T1 of 7.67%. Or go for that longer term bear wedge T2 for a 12% shot. These targets & stops are not Randy’s, they are my own.