Headlines now read "Japanese Stocks Plunge" and the Futures are down about 45 points on the Dow and 9.25 on the NDX (2:30A.M. EST).  Over that past week we have been showing the SELL TRADE set up for the Major U.S. Indexes.  I received an email tonight about whether or not I expect the rally to keep up or 'THE BIG SELL OFF' to begin shortly?   This question is not easy to answer.  We see weaker and weaker strength on Weekly charts and now some clear bearish divergence on Daily charts.  BUT,, Price RULES.  So.. we need to see a trade signal confirmation before 'betting the house' short the market.  Since I have spent a lot of time lately showing the set up I will concentrate on what action we will be looking for to either negate or confirm the continuation of the rally in tonight's update. I will say this.....however ..... When the 'key top' is in there 'may' not be much doubt.  ShepWave has shown the clear set up for a DOWN MOVE in the markets...... so...... once the break comes 'look out below'.  ShepWave will continue to show short, mid and long term targets and trading strategies.

 

 

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Read the notes posted on the 10 minute chart for the QQQQ for Thursday, April 19th Trade Guidelines.