QQQ hourly trend model flipped SHORT at the close on Thursday. A round-trip reversal back to the most recent LONG Signal (Mar 15th) would take QQQ all the way back to 327.69. This Short-Term Sell Signal comes just a few bars past the projected Intermediate Term Wave 2 high and coincides with key trend line resistance. Once again short and intermediate term trend analysis point in the same direction for at least the next few weeks and into April 14th monthly options expiration. Intermediate Term Sell Signal Short-Term Sell Signal Active traders can add Q puts and use a reversal break above the now red trend line as a stop, i.e., exit on a QQQ close above 368.00. If this is indeed the beginning of a Wave 3 down these April 14th monthly expiration puts will quickly double, and possibly double again before expiration: QQQ April 14 $360P (5.85-5.90) QQQ April 14 $350P (2.75-2.80) QQQ April 14 $330P (0.70-0.75)
