Back before the Christmas break I sent out some Key Levels in the DJI and IWM which would get me back posting some short-term bearish strategies. While neither of those have been threatened, a new one has emerged with QQQ that merits our attention and possible action. QQQ Daily A break below 399-400 suggests a minimum short-term decline to below 380 and could be the kick-off to a much more serious market meltdown below 350. Accordingly, a daily close below 399 to trigger a new strategic bearish position in the Feb 16th $380P. It may also serve as a prelude to the breaking of Key Levels in SPY and IWM, so stand by in this and/or the Premium Service updates for additional positions. QQQ - "Bullish" Even if the big picture is considered bullish (not expected) a retracement to initial Fib levels coincides with a 4th Wave revisit around QQQ 350, valuing the $380P at about $30, approximately a 10X increase from current pricing. A "Bullish" View: A 38.2% Fib retracement to the prior Wave 4 low = QQQ 350 QQQ Feb 16th Puts AAPL - Fresh Trend Model Sell Signal Another reason to expect lower QQQ prices over the next six weeks is this fresh AAPL Trend Model Sell Signal: AAPL Mar Puts An alternative to the Feb Q's
