QQQQ – Nasdaq ETF (Last:57.83)

Nasdaq ETF (QQQQ) price chart with targetsI’m keen on shorting this vehicle speculatively, although not via a trial-and-error process of leveraging minor Hidden Pivot resistance points as it moves higher (if it does). If a promising pivot should surface we’ll attempt it, but for now I’ll recommend shorting near the trendline shown in the chart.  It will come in at around 58.77 next week if this up-cycle takes another 5-6 days to complete.  My choice of vehicles would be December 52 puts, but stay tuned for further details in case things don’t play out as we might wish. ______ UPDATE: Cancel the order, since the Cubes bearishly failed to muster the feeble thrust it would have taken to reach the trendline. We’ll find other ways to short this incipient brick, so stay tuned.