In that video, I also point out the potential for island cluster tops in several of the leading stocks within the Nasdaq 100 & S&P 500 as well as the bullish falling wedge on the NQ & ES (index futures) in place right now. An ideal scenario would be for those index futures 60-minute bullish falling wedge patterns to start to play out today, which would also coincide with a bounce off the QQQ 116 support, thereby luring in some more longs & shaking out some weak-handed shorts, only to see a big gap down on Monday, putting island cluster tops in place on those leading stocks. Just one of several scenarios but either way, I’m just added a little more short exposure right here on this bounce to QQQ 116.65 & will continue to add more short exposure up to but not above yesterday’s close (i.e.- the top of today’s gap), while also shorting any convincing break below QQQ 116.

When/if 116 goes with conviction (a very impulsive drop below or a solid 30 or 60-minute close below) then yes, I believe that would be an objective shorting opp. There are also some key support levels to watch on the top components of QQQ which will greatly increase the odds of a much deeper correction if/when those levels are taken out. I covered those levels along with some other things to watch for in a video that I just wrapped up. Video is uploading now & should be published in about 20 minutes or so.