What's a party without QQQs?

My “observation” has been NDX/QQQs top last in the great tops; 1987, 2000 and 2007.  And with SPX and DJIA having already recorded intraday and closing highs, QQQs/NDX have yet to join the party.  Not a lot of observations supporting my “observation”, 3 in total, but it’s kept me from saying the ‘top is in’ until now.  Specifically, the order of the indices in topping is this:

 Today QQQs closed higher than the heretofore highest close of this bull market – March 6, 2014.  But its intraday high fell short of the 91.36 that was recorded on March 7, 2014.  QQQs are doing the split that Jean-Claude Van Dam did with a foot on each of 2 eighteen wheelers doing 50 MPH in full split.  In my study of QQQs a split high or low close/intraday occurs often, probably more often than not.  Again, an observation.  And frequently when the high close occurs earlier, the following day prints an intraday the high and forms an outside down day-big candle.  Yet again, an observation, not a “theory.”

Based on the indices closing at the high of the day, I’m expecting some continuation tomorrow.  And that’s not to mention the mood of the natives on the floor….popping open bottles of champagne at SPX’ all time high and DJIA within mere points of another all time high.  Won’t take much for QQQs to get that extra $.06. 

Unfortunately, I was looking for a rocket ascension of QQQs to give me the “signature” of a final high.  [The last 4 days of 1987, 2000 and 2007 bulls ended with a large price blowoffs.]  No rocket as yet, but I have one more day left in for my target date for this bull market to end (see essay “SPX 1998 Squares 2014…” and “).  My lowest target is mid/upper 94s for QQQs so there’s a long ways to go.  

A happy ending would be QQQs, SPX and DJIA rocket, fizzle and close lower.

In any event, I have half what I need for a top tomorrow and need the intraday element now.  Errr, and then I don’t need any highs after that.

Jim

Note-after the close 5/30/14.  Today SPX and NDX/QQQ made both a higher intraday and closing high.  NDX/QQQs were the last to the party at this point, jointly with SPX.  DJIA made its highest close but failed to make a higher intraday high today.