Ready to take off ?

Which way ? One way or the other, but be ready for a large directional move when we do break out. On your long equity positions raise stops and enjoy the ride.

Just about every asset across the board has put in reversal or outside day down. If we don't see follow through with strong momentum to the downside, then we could have a bear trap.

QQQ

 Bearish divergence, divergences against the trend are usually short lived, but worth noticing in the context, also often after three pushes up there is an ABC formation. Coming week will be an important tell one way or the other.

After a historic capitulation low, commodities appear to be firming and we could see early stages of a bull market rally across the board in commodities.