The breakdown described in yesterday's update was triggered, so we want to be taking initial positions as laid in Meltdown Strategy. Note on the QQQ Daily chart that first support came in right at the intersection of two trend lines. All indications are that when this support ultimately fails, the decline will be steep and fast. QQQ Daily When QQQ 617.21 falls, add more SQQQ Calls, and/or, add at SQQQ 14.20 (see SQQQ chart below). SQQQ Dec Calls Zeroing in on best bang for the speculative buck while allowing ample time for a QQQ decline to unfold. SQQQ 120 Minute I will add more SQQQ calls on a breakout above parallel channel, above about $14.20, which would target $17, minimum, in the weeks ahead. DJIA Daily - Another bearish chart. Setting up for 2,000 point decline off of one of the three indicated Fibonacci retracement levels.
