Yesterday, I suggested QQQ puts on a break below 525. Today, QQQ has traded as low as 527.92, down from its 534.25 previous close. QQQ 240 Minute The red arrows indicate breakdown of shorter term channels. A close below 525 would be a significant break down across multiple channels, including the Intermediate channel up from the early April lows with the suggested bet the July $510P-$505P: On a break below 525, we will be buying the QQQ July 18th 515, 510 or 505 Puts.
