The NASDAQ 100 has staged an epic rally, now
within just a few percentage points of the all-time highs. Greed is
brimming again with average investors buying technology stocks like
they were in January. Overbought signals are flashing red and more
importantly, a major gap fill has just been tagged. The level on
the $QQQ (NASDAQ 100) is $171.00 and the market has kissed it like
a shiny new gem. This is the level smart money has been waiting
for. If you add in the greed/sentiment it makes for one of the
prettiest short trades the market has offered in recent history.
Smart money has locked and loaded this level. Look for technology
stocks like Facebook (FB) and Amazon.com (AMZN) to take a dump in
the coming weeks.
