During the week my charts tend to focus on the trading indices, QQQ and IWM in particular, because those are the money patterns we are trading via puts and calls and often contain key levels which if broken, trigger fresh trading ideas. This weekend we look at the Dow and S&P 500, which provide a unique perspective on the stock market in general, while coming to the same conclusions as our trading theme via the aforementioned Nasdaq and Russell indices. DJI 2-Day Clarity favors this 2-Day DJI above shorter-term charts, the count above being a less bearish interpretation of what's to come...yet still bearish in all time frames. Below, the Daily DJI with a more dire wave count, with a series of Waves 1-2, implying hard down imminent. Both counts strongly suggest a powerful wave 3 down at multiple degrees of trend, due to begin in the days-weeks-months ahead. DJI Daily SPX Daily SPX 180 Minute In this 3 Hour chart I've annotated the current approximate level, 4900, where circuit breakers would kick in to halt trading, Whatever day this happens, we want to own leveraged puts (TQQQ) or inverse leveraged index calls (SQQQ) and hang on tight through whatever mayhem ensues. Note also the now broken trendline up from the late 2022 SPX low (close-up below). Option tables below. SPX Hourly Conclusion: Keep this last close-up SPX chart in mind come any gap-down Open in the coming days and be ready to jump into options on those leveraged indices. TQQQ = 3X leverage Bullish QQQ May TQQQ Puts TQQQ Puts and/or SQQQ Calls. Two go-to option positions should push come to shove that can be easily added even if fast market conditions make an unexpected appearance. SQQQ May SQQQ Calls ----- Active Option Tables PRO Service Premium Service
