Wednesday Update: New Intermediate Term Sell Signals


It has taken just two down days in a row to generate an Intermediate Term Sell Signal in the Nasdaq 100 (QQQ). The chart below illustrates in graphic detail the pattern-recognition set-up: A new intermediate term trend (down), started on May 1st, that has turned back down after a 61.8% Fibonacci retracement.

Note: There are three additional Sell Signals listed below the chart. 

Sell Signal: QQQ (currently around 182.30) 

Buy to Open: QQQ July 19th $182 Put (currently 4.30-4.40)


Additional Sell Signals 

All July 19th expirations:

Sell Signal: LVS

Buy to Open: July $57.50 Put (around 3.10)

Sell Signal: MU 

Buy to Open: July $33 Put (around 2.20)

Sell Signal: NVDA

Buy to Open: July $145 (around 6.70)