The QQQ index is down 12 points, about 2%, in the first hour of trading and as you can see from this chart below, is about half-way to breaking below its Key Level just under 474. QQQ Shorter-term, the hourly chart is indicating a deep dive to 450 and points south over the coming days-to-weeks. The previous 4th wave low was in October, 2023, and comes in at about 410. A scary few "days-to-weeks" ahead is possible. QQQ Hourly QQQ Sep Puts Recommended option is highlighted, but any of the strikes in the table is acceptable for expected move toward 410. At QQQ 410 that highlighted $450P is up 10X. The Sep 20th puts above are in what looks to be the out-of-the-money "sweet spot" for such a move. Consider them insurance against any TSLA calls that are being held, as well as an aggressive directional trade for this volatile election year. Buy now, or half position now, other half on a clean break below Key Level @ 474.
