QQQ Is breaking down through the bottom of its Fibonacci retracement zone. It could be a false alarm, or, could be the beginning of Wave 3 of (3) down across the board in all indexes and a massive stock market meltdown. It's one or the other, so be ready. New QQQ positions on a close below 285: QQQ Dec 16th $275P (4.90-4.95) QQQ Jan 20th $260P (4.75-4.80) IWM A breakdown below wave (b) low @ 175 would tilt the odds greatly toward an imminent Wave 3 of (3) to new lows below 150, but first, a break of the upward channel at about 180 would trigger the move down to test 175. Therefore, breaking 180 is my trigger to add new IWM puts: IWM Dec 16 $180P (3.88-3.90) IWM Jan 20 $175P (4.45-4.50) IWM 2 hr IWM Daily
