<B>Negative Divergence </B> in the QQQQ. Notice the weak attempt at a new high (#2) with less strength behind it in the Stochastics (#2) Not to mention the MACD crossing down. Look out below for at least a another day or two. Please see chart of QQQQ and I invite any comments.
Shorts are screwed either way... Scenario 1: Markets go down more, fed realizes the situation is worse than they thought and cuts rates to stabilize market... shorts get stomped. Scenario 2: Market goes up, shorts get stomped.
I think the market is in for a tremendous whalloping. The Fed rate cut delayed the inevitable and that is a 15%- 20% fall. Since September the 18th it has quite obviously been the proverbial 'suckers rally'.
Let me be the first to predict that if enough people on ET agree that it will go down ... it will go up. Trade what you see happening.