Decent sell signal on QQQ but still work to be done, namely a solid break (and close) below 101.79 on XLK (tech ETF) as well as breakdowns below the recently highlighted support levels on the majority of the FAAMG stocks. Maybe soon, but not likely today. If/when that happens (XLK & FAAMG breakdowns) then yes, a multi-week swing short on the indexes will likely pan out for a decent trade.

I wonder how well this will age.

While I believe the percentage drops on the indexes in the post above are likely to play out, the odds that they will hit those targets should rise substantially if/when we get comparable sell signals/breakdowns on the majority of the FAAMG stocks. I suspect that will happen soon, as the market internals have been deteriorating recently and the divergences, sentiment, & other technicals are pointing to the likelihood of a significant (high single-digit to double-digit) correction & quite possibly the next leg down in a bear market that started back in February on the broad-market & well before that on the small & mid-caps as well as the majority of sectors.

It’s finally happening, come on limit down.