This is one of the most important topics I can share with you, and it comes up every single time the market looks like this: consolidation, noise, and the overwhelming urge to do something.
Let's look at the QQQ chart. It's the 12-hour IADSS chart set to extended trading hours, and the picture is clear — double top at $640, support at $585 coinciding with the 200 moving average. This market can go either way. Everything is going to chop until QQQ asserts itself.
What might get it moving again? Interest rate cuts would be an incredible tailwind. I'd look for a breakout above the double top, maybe a quick retest of support, and then we're off to the races. But we're not there yet.
So what do I do during times like this? And more importantly — what should you avoid doing?
Here's exactly how I'm approaching this market right now.
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