Sick, Twisted Market

The Nasdaq Top 100 ETF is still showing strong sensitivity to last Friday's midpoint during that big selloff, as seen on the updated 30-minute chart, below, for the QQQ. Even today during midday highs we saw sellers eager to sell into China-related headlines, even if bears continue to struggle to follow-through lower. 

Hence, the near-term volatile rangebound action persists, perhaps until we get the mega cap tech earnings in the next few weeks. 

Meanwhile, gold is still stretching higher yet even as Fed heads and the Administration do everything they can do dismiss the price action or declare it irrelevant.

History, of course, suggests otherwise.