Thx for sharing both of those Erik. Good to know.

Good Point. Right now, I’m just looking for a relatively quick pullback trade on QQQ & I chose that one because the 60-minute bearish rising wedge patterns on both /NQ & /ES are very well-defined. Obvious, SOXX doesn’t have a futures contract to reference for around the clock trading & the 60-minute chart of SOXX isn’t as clear to me as that of QQQ. With that being said, I am considering adding SOXX as a longer-term swing trade here soon, maybe even before the close today. If so, that trade will have larger profit targets & wider stops.

Thanks. I’ve heard about DeMark Sequential 13 exhaustion signal, but I don’t know how to read the chart.

Also note that $INTC (which Randy covered yesterday) is now on a 9 sell setup candle (daily), and a 13 sell countdown (weekly). It’s under-performing the SOX this morning, which itself is under-performing the market. Storm clouds are getting bigger…

FYI — I’m using this version of the indicator on Tradingview: https://www.tradingview.com/script/Y6Z5YSuI-Tom-Demark-TD-Indicator/

Randy, if you can make a case, as you just did that the Qs are a good short, you could make an even better case, probably with an official idea on the semis. Just look at how much weaker they are than the broad QQQ index, helped by all these mega cap stocks. While the Qs are at ATH, semis are far from it. Although I have a rather full position in SOXS, I will add to it as a proxy to SQQQ as I think, and you confirmed with yesterday’s video, that there is much more meat on the bone on SOXS than SQQQ.

Best of luck on the trade. I might do a quick video on the top components of QQQ as the potential exists for this to morph into more than just the quick pullback trade that I’m looking for at this time.
First things first, though, and that would be to see QQQ confirm the negative divergences soon with a bearish PPO crossover & ideally, a red close today. SOXX also on watch as a potential short swing trade.