QQQQ – Nasdaq ETF (Last:59.09)

Nasdaq ETF (QQQQ) price chart with targetsThe Cubes fell just a whisker shy of a 59.46 target last week, but if we’re going to lay out shorts, I’ll suggest doing so at a more promising Hidden Pivot 61.58.  Use four July 61 puts, which I (very roughly) estimate will be trading for around 1.65 if QQQ reaches 61.58. The target is somewhat more ambitious than the 1371.00 pivot we’ll be attempting to short in the E-Mini S&P, but I wanted to provide a bearish betting opportunity nonetheless for traders who prefer options to futures.  Camoflageurs should start looking for a turn as early as 60.93, the ‘D’ target that results if  you use the 51.88 point ‘A’ whence the rally took off. _______ UPDATE:   The little bugger never went any higher than 59.34.  Cancel the order, but we may try again later.