I've got a few questions about being bullish above $705 as it conflicts with my long term model projection. The most important $QQQ level is $705 Critical Support. Price has bounced off it ALL YEAR LONG and when it failed in July there was a larger correction. The simplest way to trade right now is take longs off this level until it breaks. The long term model has been INSANELY accurate, but if you've been risk off since the highs, with $QQQ now down 8%, you don't want to miss a potential recovery waiting for another 1% of downside. Especially when you have a major support level to trade against. I went long off $705, took profits at $714, and now I'm holding a core position. If price recovers, I'm positioned for a move back to all time highs. If the move fails, I can scratch the trade at breakeven. Ultimately, I'm expecting a retest of the lows but as long as $705 critical support holds, I'm long.

Interesting to see everyone getting bearish precious metals this weekend at the lows...

The easiest trade in the market right now is $QQQ. Long above $705, risk off below. This is how you time the bottom without timing the bottom. (Not financial advice)

Good luck in the stock market this week.

Futures nicely green.

T-minus 2 hours and 43 minutes until Sunday night futures open.

We are winning.

Don't worry guys, the next time $QQQ tops or bottoms I'll let you know and we'll all get rich together.

Most people are right about their invest thesis but wrong about the timing.