I am monitoring this hourly QQQ set-up for a potential third wave breakdown. A steep decline from current positioning would be a very bearish development and if it happens after this Alert goes out, I may not be around to bang the table to get short. So it's a "What if," kind of Alert today, what if price breaks down from that Wave 2 parallel channel. If it does, QQQ puts and/or SOXS calls would be in order. I covered those options on Monday. QQQ Hourly Coming up: Long holiday weekend and geopolitical angst vis a vis Iran and potential gearing up of hostilities. Not a stable environment for stocks. Today's QQQ low is at 706.80, Wednesday's low was @ 703.79 and Monday's low was 695.25. Any decline much below the first two levels would be trigger enough to get aggressively short through the three-day weekend. To be continued...
