Yesterday's price action brought out the bulls on financial-social media, big time with an almost unanimous sigh of relief that a bottom was in and new highs across stock indices are next. Not by my charts. At a minimum a re-test of the lows is in order over the next few days, a test that ultimately should fail. Upon the next leg down, I will be adding new short-the-market option ideas out to May-June. Look for it, first here in the PRO Service, to be followed soon thereafter in the Premium Service. QQQ Hourly This wave count is admittedly an aggressive projection, more than 100 QQQ points lower, but it could unfold over several months, so its not necessarily a crash in traditional terms, but in absolute numbers, yes. There is time and space for this counter-trend rally to retrace a bit higher into the shaded zone, so downside is not necessarily imminent, but it is ultimately where prices are headed, sooner or later, so be ready. SQQQ Hourly SQQQ: Eventually $50+ and likely by Jun 20th options expiration. GLD Initial tranche of GLD calls (Premium Service Alert) New month, new high on our most recent PRO Service calls
