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The Way Tech Goes Is The Market Direction

|Includes:PowerShares QQQ Trust ETF (QQQ)

The Tech market has been a severe laggard in this euphoric advance, and for good reason. Its not only AAPL anymore. It is now GOOG, AMZN, & BIDU just to name a few.

This break in tech is always a precursor to a market top. Add this sign to all the others that have been popping up for the last month or so, and you get a recipe for a correction.

Tops do not happen in one day or overnight, it is a process and this process is very near its completion. I am looking for a major start to this weakness to start within the next few days, probably later today or tomorrow. This is because there is a lot of open interest calls and short put positions out there which has pushed the vix below 12, which was a big support level for the vix these past couple of months.

Good Luck and use protection!!

Disclosure: I am long TZA.

Additional disclosure: I am short the market!!

Stocks: QQQ