@yahoo… The levels are the “shoulders” on SPY and QQQ. For SPY, it’s a narrow range between 469.68-470.30. For QQQ it would be 399.09-400.79. It is very evident with both price action and volume profile.

I agree, @rsotc and appreciated the video. I enjoy the “big picture” breadth analysis the most.

Based on my analysis I think we’re likely to see a crowded rush for the exits soon, this month or early in the new year. Plenty of ‘potential’ fundamentals catalysts on the economic calendar this week including but not limited to the FOMC announcement on Wed.

Beautiful example of TA so far today with QQQ entering the gap shortly before the close yesterday & gapping down to the bottom of it at the open today, allowing for a nice reversal from short to long for a quick bounce trade & back to short again. Best of luck on your trades.

@Scott – Just curious, which of “those well-defined levels” are you referring to?

It would take too much coordination between too many traders setting limit orders at those specific levels. This is big money drawing the line. The great unwind is underway.