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Time To Sell Again

|Includes: PSQ, QID-OLD, Invesco QQQ ETF (QQQ)

I expect a reversal candle Friday, where no matter what the open looks like, things turn very bearish by the close.

I sold QQQ going into the close yesterday, and entered PSQ.

The next trade would be to add leverage to the Index short QQQ position (by replacing PSQ with QID) if the blue line of the cycle adjusted Williams %R indicator at the bottom of the chart crosses into the upper extreme zone to deliver the next red circle sell.

Stocks may head lower before that happens, as the S&P500 is smack at the orange and purple trend averages shown in the chart below, which usually marks the kill zone for bear market rallies.

The green circles are buy the dip points in bull trends, while the red circles are sell the rip points in bears.

Sign up at if you would like to receive a three month trial so you can keep track of charts like the one below to see how they handle the zigs and zags in the new bear market.

Disclosure: I am/we are long PSQ.