Do the pros really close the market? If so, buyer beware!

Here we have 15m bars on QQQ, looking specifically at the last 4 market days. Specifically, the close. Why the close, you ask? Because there's an adage floating around that states "Amateurs open the market...... pros close it". Is it true? Perhaps. If you believe the second half to be true... the "pros close it" part, then I implore you to take a look at your charts for QQQ the past 4 days. Look between 3:50-4:00 market time, the last 10 minutes. See the decisive sell-off each day, regardless of what happened up to that point? If you open an Accumulation/Distribution indicator you'll see the bear spikes confirmed. These End of Day selloffs, in addition to the inability to break through the natural resistance of the all time high, are quite possibly pointing towards a double top. As the calender rolls over I would be very careful if you're bullish on QQQ in particular. Watch for the next few days.

評論:

Yup, pros close the market. They were telling us to get the hell out. Did you listen?