Following up on Tuesday's SQQQ chart pattern, a breakout above the Wave 1 high of $58.29 (Dec 28th) targets $65, which then targets $85 by Feb 17th. This is a highly leveraged trade akin to UVXY - but since volatility measures are not performing in their usual manner, SQQQ and/or an SQQQ call is a more reliable "high risk high reward" bet for downside volatility. SQQQ - Currently trading at $56.50; Intraday High = $57.04 If Wave 1 High $58.29 is exceeded at any time, then buy: SQQQ Feb 17th $60C (5.30-5.50) SQQQ target mid-$80's on or before Feb expiration Stop On Option: 50% Trailing
