Why do we use TA?
TA is used so we have no attachment of feelings towards any stocks. You will lose your concentration if fear and greed creeps in. Let the market show you direction, set your target and execute.
We are now close to a critical point that I drew on the QQQQ chart as an uptrend support with an orange line. As you can see we are very close to it. If we break through the orange line we will most likely experience a psychological change in the market. Fear will set in and slowly it will spread as most stocks will be sold. It will be wise to be in cash and or learn to short.
We do have another possibility that the price bounces of the orange line and go through the upper yellow line. This would create a very complex pattern, possibly going toward the upside.
Time is short; I would say we have around 15 days the most if not sooner, that the market Action will give us direction. Once we resolve the line on either direction I will have more ideas how to play this fun game of money called the stock market.