After a huge gap down, Nasdaq (QQQ) has bounced back and is close to its high of the day, so far. Nonetheless, an acceleration down, especially into the close, will all but confirm the long awaited Wave 3 down is in play with the first target being the late March lows. These two intermediate term trades are waiting in the wings; Sell Signal Pending: MSFT below $198 at the close. Buy Signal Pending: VXX above $31.50 at the close. Depending on price action during the rest of today's session we may want to get into one or both of these early. Stand-by for any interim alerts throughout the day. PRO Subscribers, we are also looking at NVDA and ROKU for additions to our current short-term trading portfolio. Stand-by on those as well.
