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)