QQQ QQQ triggered initial Short positions last week when it closed below 435.00 on Friday. Today has shown a sharp retracement right into the Fibonacci shaded rectangle. A few more bars and QQQ should resume its downtrend. QQQ 240 Minute BITO Bitcoin is down close to $10K off its highs of last week. Before the decline, the March BITO $23C went off the board last Friday for a 615% gain. The April BITO calls are close to the 50% trailing stop, but still up well over 100%. The Jun calls are up over 300%. BITO Jun Calls - exit only if "Current Return" falls below +220% BITO Apr Calls - depending on entry, has triggered or is close to triggering 50% trailing stop. BITO Mar Calls - Expired last Friday @ +615% Special Alert: FOMC Meeting The Fed is meeting this week to discuss interest rate policy going forward. Ominously, last week our TLT Long Term Model issued a Sell Signal, this is based on weekly prices: TLT Weekly The implication of this chart is that rates are going higher, whether the Fed likes it or not. The Jun 21st $92P is trading at 2.10-2.15 this morning, could be worth 5X that come Jun expiration. Betting on Bonds/Rates in front of Fed meeting is full of risk, so caution is warranted, at least until after Wednesday.
