We hold a small short position consisting of four Nov 27 272 puts that have flatlined. QQQ shows no inclination to break up or down, even if a Hidden Pivot target well below, at 272.84, remains theoretically viable. My gut feeling is that the Cubes will head higher, but not before they’ve corrected to at least p=285.99, or perhaps p2=279.42. The rally would have potential to 312.29, the Hidden Pivot target of a pattern going back to July 24’s 251.32 low. The pattern looks authoritative, implying not only that the target will be reached, but that x=273.16 could be bought ‘mechanically’ with stop-loss at 260.11.
QQQ – Nasdaq ETF (Last:290.38)