A bearish posture continues to be the favored directional trade, relying heavily on July QQQ puts to ride the Q's down toward the mid-600's, minimum, by the third week in July. This morning's low print was 696.18, a close any day this week below that level turns me ultra bearish (and you thought I couldn't get more bearish). QQQ 120 Minute This 120 minute chart succinctly sets out the downtrend as well as where my analysis suggests the Q's are headed in the weeks ahead, i.e., QQQ 650-620. Hold July puts tight, and consider adding once 700 level is left behind...convincingly. Bitcoin 2-Day Our second largest bet is BTC short (IBIT July puts) which is one breakdown away from targeting the $40K level. As with the Q's, hold the IBIT July $40 puts tightly and consider adding on a convincing breakdown below $60K. NVDA Daily Still waiting on a close below $200 to target $170 in a third wave collapse. Scorecard From initial entries; without regard to trailing stops or re-entries.
