The Big Picture chart below sets out a price target of QQQ <250 at or before Jun 17th options expiration: The potential of a market event triggering circuit breakers will be hanging above this market for so long as it is in a "Wave 3 of 3 Down" momentum window. A 7% decline amounts to about 20 QQQ points. If QQQ is within 20 points of 250 it is within a single news headline of hitting the target, i.e., when time will be of the essence for an extraordinary add-on trade. This is where the weekly UVXY calls and to a lessor extent weekly expiration QQQ puts offer ready-made opportunities for maximum leveraged moves. I will post ASAP should fast market conditions present such an opportunity. UVXY Breakout Pending One of our favorite pattern recognition set-ups, no matter what the symbol.
