I suspect that stop-raid on /NQ & QQQ might have happened earlier today with the 1%+ rally if the bulk of the stops were set tight to the top of that range & just above the downtrend line on /NQ. We’ll see but Today could have marked the final test of the top of those bounce target ranges from over two weeks ago but too early to say right now as we are still testing the top of those ranges.

I hadn’t noticed those before, thanks for sharing.

Looks like a symmetrical consolidation triangle. Looks like the bulls don’t want to take it up unless there is a surprise +50bps rate cut coming, Jackson hole probably key to work out the tone. Volumes also declining through the past few sessions.

https://www.tradingview.com/x/xycIGiKs/

My expectations is that with all these forces lining up to the downside, the market will move dramatically to the upside. Yep, I’ll be bleeding all over the keyboard while I put on more trades for the downside. It sounds more dramatic than it is. I’m up 5% for the year so I’m still playing with house money but I’m quite willing to push this thing until I’m 5% down. This is how you play a bear.

You mentioned the consumer number. Yes, it went up but with a corresponding drop in the savings rate. The employment numbers are being revised down every month and even the buybacks on the SPX has contracted. There is 16 trillion dollars of negative interest money out there, a fed cut does nothing but push on a string.

The market will be going lower eventually but the wider implications are starting to get down right scary.