The triple Q's continue to show weakness and today price is approaching a key support level while the reliable 120 minute trend model has just flashed a fresh Sell Signal. Enough to buy puts? If 313.00 is taken out convincingly, yes. QQQ 120 Minute Tomorrow's CPI pre-Open CPI print will dominate the news cycle, and will at least short-term have more influence on the Q's then this pattern or signal .Longer-term, into Jun monthly expiration, is a different story. Waiting a day to pull the trigger would be the prudent strategy. If things start falling apart before today's close, we have April 21st IWM puts to carry into expiration. If flat, I would want at least some downside exposure to this set-up, even if its way out-of-the-money June expiration. On QQQ close below $313.00: QQQ Jun 16th $290P (4.25-4.30) TSLA Hourly - On the other hand.... Consistent with our EW bullish assumption, this hourly chart is on a fresh Buy Signal. If TSLA can take out March high its off to the races.
