QQQQ

A Hidden Pivot just above, at 45.44, has the potential to be a bear-rally stopper.  Accordingly, we'll plan on getting short when the target is closely approached by buying four January 45 puts (QQQMS). They should be trading for around 0.90, but the best way to determine their fair price is to monitor the bid/asked spread when QQQQ gets within 20 or so cents of the target. I am not suggesting a stop-loss on this trade because it seems highly unlikely to me that the Cubes will simply blow past the target.  Mark this order good-till-canceled.

No tradable patterns leap out at me for today, although the daily chart can be imagined to yield a potentially important rally top at 45.90 later this week or next. Hidden Pivot targets aside, the Cubes will fly or die based on how well they handle three peaks recorded earlier this month near 43.80. If they  get through them today, though, bears better not try to impede anywhere south of 45.

This chart like so many other index charts doesn't seem to want to come down. There has been massive downside pressure being applied to the daily chart and price hasn't even moved down 50%. If there are any surprises with the earnings reports there could some fireworks and increased volatility. As you can see from the chart price is approaching support at the ___ level. I am using the round number as there are several support prices around this level on various charts. For price to start a retracement higher price would have to go through ___ and then it could rally in 1 point increments. The up numbers are based upon the current low. The pressure indicator has entered an over extended area on the chart.

We usually seek to get short at the 'D' targets or midpoints of rallies, but just to have a piece of the action if shares should plunge, let's bid speculatively for a very small put position in this vehicle.  Bid 0.84 for two August 33 puts (QAVTG), good for the first 10 minutes of the session, and bid 0.81 for two more, good for the remainder of the day.