This QQQ 120 Minute chart has been our main directional play from mid-July and now into September. It still remains our best bet going forward. The 78% retracement of the deep dive into August 5th has held so far and the Q's are doing what they need to do to keep it alive, albeit ever so slowly. Needless to say, it is one unexpected news headline away from a big payoff. QQQ 120 Minute If Minor Wave 3 down has started it will have to accelerate soon, taking out 450, then 400 on its way to 350. Is it to much to ask for all of that in the next three weeks, in time for whatever is left of the Sep $450P? Three Increasingly Attractive Trading Positions QQQ Sep 20th $450P Up 90% today and moving back toward break-even. Still an excellent but growingly short-term bet on immediate downside acceleration. QQQ Oct 18th $440P If things were to start going south in a hurry this strike/expiration is an attractive rollover alternative. ----- SQQQ SQQQ Target is > $15 by Dec 20th Expiration SQQQ Dec 20th $10C Under $1.00 and over 100 days to expiration, a cheap insurance bet that greatly reduces time as a factor, while maintaining a highly leveraged bet that QQQ is headed toward 400-350 by or around November 5th.
