S&P 500 & Nasdaq Analysis and Trends

[The Real Deal]

You're going to be close. I was a little too hard on the Qs. They have been struggling with the 20 day MA the last few days and that 20 day MA is becoming resistance.

The $TRAN is now under the 50 day MA so I expect the QQQQ to follow in the next two to four weeks. I am short the QQQQ via puts.

I think we are in the early stages of a 10% correction off the 52 week high on the QQQQ putting my target price at about $40.38.

Good luck traders.