This was the QQQ chart and commentary I sent out in the Weekend Update, July 13, 2024: This was the aftermath, a drop from 503 to 423, a decline of 16% over two weeks, a "Best Return" of 787.75% on the recommended QQQ Sep 20th $450P just days later on July 17th: ----- Fast forward to the first weekend of 2025 and a just as persuasive set-up to the downside is presenting itself on the very same QQQ index: QQQ 120 Minute Closer-Up: QQQ Hourly This Hourly chart is as of the close on Friday and suggests that QQQ has another 40-50 points downside exposure, minimum, unfolding over the next few weeks. SQQQ Hourly If these shorter-term charts are correct, SQQQ should be in the mid $30's by January 17th expiration. An equivalent market decline with that of July 2024 takes SQQQ into the high $40's in two weeks. SPY Daily SPY exhibiting the same impulsive downside pattern as QQQ and DJI. TLT Daily I keep my charts simpler than most EW practitioners, not because I am a simpleton, but because when it comes to pattern recognition, the less annotations on the chart the better the prognostication. Still looking for a drop to 82-75 for this 5th Wave down in TLT. TLT March Put Worst case is the triggering of a 50% trailing stop at about +77% (one-half of Best Return percentage). Not bad for a trade that is less than a month in duration. Stock of the Year TSLA was up over $31 on Friday, not exactly the price action of a stock in a corrective wave. This temper's my bearish view for the weeks ahead, at least for this stock. When TSLA's correction is over, now or in the week's ahead, next Fib extension resistance is $600-$800. TSLA to $20 Trillion (up 15X) TSLL Daily Looks close to done retracing; once over the next upside target zone is $45-60. We will be looking at Mar-Jun expiration for new calls. Sleeper Stock of The Year RKLB RKLB was one of the runners-up to being Stock of The Year and it has started off 2025 with an all time closing high. Our original calls are up over 800% with two weeks still to go until expiration. Expect to roll-over come Jan 17th. Premium Service Calls Option Performance Tables Premium Service PRO Service
