QQQ – Nasdaq ETF (Last:267.54)

[QQQ] The chart shows two Hidden Pivot ‘D’ supports, either of which is capable of generating a tradeable bottom.  Subscribers reported success using SQQQ, an ultrashort ETF, to play the move. The downside targets lie, respectively, at 260.69 and 258.42. However, sliding ‘A’ up to the marquee high at 303.50 recorded on Sep 2 would produce a downside target as low as 243.85. Friday’s bounce precisely from p=262.15 of that pattern has validated this target and the pattern associated with it while also providing a rationale for bottom-fishing at 243.85 with a very tight stop loss. ______ UPDATE (Sep 21, 8:42 p.m.): Subscribers reported making hay with the 260.60 target, which caught the low of a nearly 7-point plunge within 58 cents. The bounce is strongly impulsive, but I expect it to fade well shy of last week’s peaks near 280.00 In any event, we’ll repair to the sidelines for now.