A Key Level is a Key Level for good reason. Note especially on the QQQ chart below how 375 has now been repeatedly tested, stopping the market decline each time. A break below yesterday's low, 375.31, should drop the Q's at least into the mid 350's, triggering a short to intermediate term trade to the short side. QQQ 180 Minute The next break below 375 should be more permanent and will make this a high confidence trade: On the next break below 375 Buy to open the Aug18th 375P (current: 3.13-3.15) QQQ Target zone: 360-350 = $375P > $20 Subject to 50% trailing stop after entry VIX Daily VIX tested 15.00 in late Thursday trading. A hard break above 15.00 is all the temptation needed to enter aggressive VIX call positions: Aug 16th or Sep 20th $15C TSLA Below is our 240 minute trading model. I've bracketed the potential Wave (4) low between 220-235 mid to late August. Don't blink, or you may miss it.
