What a great run up in the overall market making big gains but the QQQQ which was the strongest index is showing weakness. The chart below shows big profit taking last Thursday with 216 million versus 183 million up on Friday. Which way is the price going? Down. I think we are going to pull back starting Tuesday and the QQQQ will retest $30-31. I am in the QID which is the 2x Short the QQQQ.

Also look at the XLK (Tech Spider)which showed huge selling pressure on Thursday. This wants to retest $14-15.

The broad market in the SPY also showed weakness but it was heald up buy the finacials and energy sectors. The QQQQ is the weakest sector.