Tracking three sets of targets for two vehicles — QQQ and the E-Mini Nasdaq — in one tout became unwieldly and confusing, so I am limiting this analysis for simplicity’s sake. The 337.10 rally target shown corresponds very closely to targets in ES and DIA that were missed last week by millimeters. A hat-trick of major tops is possible, and I’ve suggested getting short speculatively via puts in DIA and/or IWM. You’re on your own if you elect to trade the E-Mini Nasdaq, but as far as I can tell there are only a handful of subscribers with the experience and brass balls needed to get in its way. My target for it, flagged here earlier, is 13836. The actual high last week was 13821. _______ UPDATE (Feb 16, 8:00 p.m.): Both QQQ and the E-Mini Nasdaq (NQ) reversed after slightly exceeding their respectively rally targets. If you got short at either, stop yourself out on a close above the highs. ______ UPDATE (Feb 17, 8:33 p.m.): After exceeding the 13836 rally target by 64 points, the futures have plunged, trading more than 300 points below it. If you got short and hung on, as much as half of the position should have been covered by now.
QQQ – Nasdaq ETF (Last:13716)
