Hi @susantrade3, hope you loaded up on your shorts before the drop today:-) Does the Hurst Cycle show anything between now and May 23, the tgt low?

I can’t think of any tools that might help to predict when a security is more likely to correct in time vs. price following a bearish chart pattern breakdown during an uptrend (or a bullish chart pattern breakout during a downtrend). However, it is more common to see corrections from bearish setups during strong bull trends either play out for a relatively minor price drop (less than the measured target of the bearish chart pattern) or a correction mostly in time. Gold has had several examples of that recently.

I posted the wrong chart. Here’s the right one …

The 3am pumps are not market manipulation. That’s when the European markets open and they buy US stock.
Here’s a chart of Euro Stoxx 50, the equivalent of S&P in Europe. That index has recovered less than 40% (compared to almost 100% on QQQ) because they see the US tech more reliable than the EU production.
BUT! … HUGE BUT!!! (haha). It doesn’t matter where the money comes from. One should not care if Martians are buying Apple, the only thing that matters is that they do.

The low volume is very common for bull markets. Institutional investors have already bought, everything is in place.

It’s getting really frothy with those 5am pumps on low vol.

Price action is on low volume and narrowly based. Let’s see how this goes.

Alternatively, the ONLY hope for shorts is for a rising triangle/wedge (dark blue) to play out, and bring a pullback towards 2770, but I give a pretty low probability to this because the price action (which is the most important “indicator”) cannot be more BULLISH.

“I guess it’s true, you can make a small fortune shorting the market, it only takes a large one to do it! lol”
LOL indeed…