QQQ Looking Ever More Right Shouldery

It’s a pattern and that is the caveat. We TAs see them and get very very excited. After being long the Cube out of the late March low I am now short. Pardon me if I don’t get overly excited; with Apple earnings coming up, the whole world expecting poor iPhone 10 sales and the Semi index teetering. There is an element of a bearish view seeming in the bag.

I shorted the Cube in after-hours upside bursts on Thursday and Friday, and today’s reversal below the SMA 50 to keep the H&S looking good looks almost too good. So I am not a short hero until the market’s technicals tell me to be (right, I won’t be even then, sitting primarily in cash as I’d be, but I’d lean that way for sure if we get real bear trend signals).

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