This is the same QQQ Hourly chart sent out yesterday, followed by today's mid-session chart. One day certainly makes a difference. It's not just the Nasdaq 100 that is in deep dive mode as the S&P 500 gapped well below its 50 day MA at today's open: Below is DIA. the proxy for the DJIA, reflecting a most bearish EW wave count suggesting a market that is cascading down, well short of its ultimate destination: The CEO's of FB. TWTR and GOOGL are testifying before Congress right now, just hours before their respective earnings are announced, all of this just 6 days before one of the most divided and potentially volatile elections in our county's history. Covid is out of control in Europe and there is rampant fear its next stop is on our shores translating into more lockdowns, business closures and restrictions on travel and movement leading right into the Nov-Dec holiday season. Everything is coming together for a perfect storm of madness. If so, it will be better to own some puts than not. Once past earnings we can look to our models for individual stock selections, but for now, the QQQ puts and VXX calls confirmed Monday will do. [PRO Service members: Still holding the QQQ Nov $275P from Oct 22nd and the TSM Nov $85P from Oct 16th]
