$QQQ I wipe! In the active trades, the sell-wall orders are more than double the buy-back orders, and in the spot order book the sell orders are also thicker than the buys on one side. With this kind of selling pressure, the price still refuses to drop—dead-locked above the moving average line, hugging the recent short-term highs and unwilling to loosen. I think this chart isn’t a slow, creeping decline; it’s weak hands handing out chips for the big players. The whale position long ratio is pulled up to above seventy percent, and the fees didn’t push longs off the train either. These few candlesticks have been grinding back and forth— the more it grinds, the more it looks like someone is picking up inventory from below. This show has only just started; don’t rush to get off!