As of Friday evening, Randy did post a message that he was going short with a small position.This is for the active trader stuff.

Is he long or ?

With the clock stopping at the end of trading Friday it’s hard to say since the weekend carries extra days of overnight risk.
I’d say about a 50/50 chance however that’s not black and white. I factor in the R/R which is the upside gain potential if I stayed long to 618 versus the potential if we gap down & continue lower instead on Monday, hence I went home mildly short /NQ & long /VIX in my active trading account after that last reversal and sticking with the swing shorts and other accounts. The recent sell signals on QQQ, SPY, & SOXX were big factors in that decision

Do you still expect Qs to hit 618 ish ?

Change of (trading) plan: Closed long for a small profit & reversed back to short (small position) on this 5m uptrend line break with stops above today’s high. 5m charts of /NQ & QQQ below.

That is freakin’ awesome ! :)

2nd reversal (long to short) pullback target hit for the extra “juice” from that 5m chart trading plan above. Reversed back to long at my pullback target in an attempt to milk out another thrust up before reversing back to short again, but will pull the plug (close) and/or reverse back to short again, if I see a compelling reason to do so. Stop about 1/2 down between this & the next marked support level below to allow for a slight overshoot.

…and the 5m chart of /NQ. Again, active trader stuff only… ‘less active’ swing traders might opt to sit tight & hold out for the higher bounce targets as so far, so good on the reversals off QQQ T4 & /NQ T5 this morning with those positive (bullish) divergences put in.

If that pullback target on QQQ & /NQ is hit, that’s only a 1/2% pullback but that’s a 1% round trip & probably 3-5x that on /VIX. Add that 1% round-trip (assuming if successful) to the 4%+ daily gain so far (1.85% drop into today’s low/price targets on /NQ & QQQ reversed at + the 2.6% gain off those lows so far) and those little “add-ons” add up over time. Worst case, I give back a fraction of today’s profits and will re-assess or re-enter from there.

Something along these lines… (QQQ 5m chart):

Note, the arrow on the SPY pullback goes to the max pullback target (671ish) although I might reverse back if/when it hits that 672.80ish support, assuming the reversal even pans out. Again, minute by minute, tick by tick, when active trading as volatility is elevated.

Yes, taking the charts tick by tick, or minute by minute right now, watching the indexes (SPY & QQQ) on multiple time frames as well as key sectors such as XLF & SOXX along with the market-leading Mag# big tech stocks & likely to reverse back to short soon to game a quick pullback as QQQ is approaching the 612.63ish resistance along with SPY approaching the 675.50ish resistance (both on the 15m time frames) where there’s a good chance of a (active trader/quick/shallow) pullback, then long again.

However, it is impossible for anyone to “follow” an active traders, especially when day trading. Every trader should a trading plan that aligns with their own trading style & stick with it, until & unless something in the charts changes (or you see something that you missed that convinces you to do so)

…and currently, while subject to change, my max. bounce target is around that 618ish resistance on QQQ.