When does $QQQ Peak?

Remember the post we did on March 15th discussing that the QQQ Trend turned positive, and it would likely become a buy the dip set up thereafter? It has worked, albeit for many of you (and me) it feels “hard” to defy logic and buy stocks like NVDA which is wildly expensive or MDB after a big miss has bounced all the way back. My suggestion was hold your nose and create synthetic longs by shorting puts on names like MSFT META where you would be willing to own the stock if you were put at the expiration or trade around the position. The market has offered a couple of drops to do so, like META on 3/17 down $9 and MSFT on 3/20 dropped $9 intra-day. There is NO doubt it is playing with fire the piling into “safe” tech. I am on vaca, but was sent the QQQ hit a red 13 to sell on the Demark TD Sequential a couple of days ago. I am not as big a fan of the red 13 signals versus the past as too many participants trading that signal makes it work less often and hard to “confirm”. But, it did signal as you can see below and has worked in the past.