Hey, Remember Me? Violent Indecision from the Bronx

It appears we may have a Benny Blanco situation on our hands in the market this week, as the Nasdaq is beginning to swing around violently on a daily basis more than at any point in recent memory. 

While it is true that we may need to take everything with a grain of salt due to the holiday coming up, end of month/quarter gamesmanship by fund managers, etc., be it the bullish move in the small caps yesterday or the heavy-looking action in the QQQ now today, the price action this morning smacks of violent indecision. 

Although the legendary nature of this bull run has consistently ignored it in the past, we still do not want to let our guard down too much when violently indecisive price action rears its head. 

Note how violent indecision stands in stark contrast to calm, quiet, mild indecision which can favor bulls in uptrends, usually denoted in the form of a "doji" candlestick on charts. Of course, I am generalizing and there are plenty of exceptions. 

But putting this analysis into focus, observe the daily QQQ chart, below, with some sizable candles piling up this week along the 50-day simple moving average. Back under $138 should be a signal to ease off longs in the interim, as the buyers from yesterday would be decisively smacked down by, ironically, violently indecisive price action.