The most recent PRO update was presumptuous in its title. i.e., Calling A Top. Five days later, has anything changed to to merit rescinding that forecast, or alternatively, doubling down, so to speak? Let's take a gander at the Q's chart, before commenting: QQQ Price has now dropped below the key trendline coming up off of the Mar 30th low, which is the most bearish outcome, short of an all out crash, that could be expected. The next key tell will be a break below the June 9th low of 686.37. A close below that level brings the low 600's into view, with still plenty of time until August expiration. It's still a tad early to start the EW labeling, but if and when that key level is broken, we attach a wave count and along with it, some additional sector specific options that can be expected to lead the general market lower. NFLX NFLX has technically put in five waves down, so the risk:reward has now slid well into the risk side of the equation. The July puts violated the 50% trailing stop, however, I would hold a small position into expiration, just in case that Wave 5 has further to go over the next couple of weeks. Silver Silver is down today, right into support and should be ready for a fresh leg up next and a new PRO Service call position. Any further downside means our first stab at nailing the Wave 4 low was off by a few days, or weeks. In any case, Wave 5 will take Silver well past the January 29, 2026 high of $121.65, so it will be well worth a new long position. Silver Calls (Premium Service) Bottom Line: We will look to take new Silver call positions no matter what Silver does next - either a fresh new rally into the $60's and $70's, or a drop into the low-to-mid $50's first. Later this year, triple digit Silver and new all time highs await.
