Key levels just below current prices (see "Wave 3 Down" trend lines on charts) are on our radar for a major commitment to a third wave down at multiple degrees of trend. The alternative path is up, a lower probability based on unfolding patterns, so we are keeping it as "possible, but less likely" for now. The best rewards would come from a sharp, steep decline in Nasdaq, one which would propel SQQQ well into the $40-$60 range taking April calls up 5X to 10X in the weeks to come. That is still a better than 50-50 proposition, so we are seeking triggers to add capital in that direction. (See comments below: SQQQ Apr Calls). As the charts below suggest, all stock indices are well entrenched in their respective Fibonacci retracement rectangles, meaning a turn down now would be highly suggestive of a beginning of Wave 3 down at multiple degrees of trend, a perfect storm for a spike in SQQQ. Accordingly, hard down is that trigger, and absent same, we sit, monitor and await further developments. DJI SPY QQQ 2 Hr Live Alert: I've updated QQQ & SQQQ 2 Hr charts to reflect mid-session weakness, with QQQ breaking below $485. The Wave 1 down from the Feb 19th Top took QQQ from 540.81 to 525.71 in two days, then all the way to 466.43 by March 13th. The SQQQ March calls were up over 600% during that Wave 1 decline, as SQQQ spiked from $26 to $40. A Wave 3 decline should generate similar, if not better, returns. SQQQ March Exp Trade Looking to repeat with April calls for next leg down in QQQ. SQQQ 2 Hr SQQQ Apr Calls - Updated New capital allocated to calls in this table upon QQQ breaking down through Wave 3 trigger < 473. More aggressive traders start adding < 480. Super-aggressive <485 SQQQ Apr 17th $36C on QQQ breakdown this week. More aggressive traders can look at $38 and $40 strikes. IWM 240 An IWM print below $200 should result in an acceleration down in all stock indices. TSLA 240 TSLL 240 So far, just three waves up, so not out of woods completely, but TSLA is an example of bad news corresponding to at least short term, if not intermediate term, buying opportunities. Longer term, every day is a buying opportunity (see linked video below). Sep TSLL Calls Still a BUY: Absent a market crash we are looking for 5X-10X, minimum. Cathie Wood predicts Tesla stock to hit $2,600
