NFTRH+; QQQ Bear Setup Parameters

Today may or may not be the bounce that was expected off of the bearish developments last week.  If so, or in the event such a bounce materializes this week I wanted to put some parameters down on the QQQ.

Big tech has not gotten nearly over sold enough to put in a serious bottom in my opinion.  But a bounce can take it up to the 96 to 98 area, which could be an opportunity to short for a subsequent decline to a good bottom.

QQQ is finding some support at the August lows, but the very temporary poke below that level could be a guide for the future; a scout for future price exploration if you will.  QQQ has made a series of lower highs and lower lows since September and could be worth a shot from the short side (straight up short, leveraged ETF, put options) per the parameters below.


Sell Short Target:  97 to 98 (very low risk would wait for 98, though it may not get there)

Downside Price Target:  92 +/-

Stop Loss:  Above 98.50 as suits risk tolerance (I would be strict on it, personally)

I remind you that NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted.  They are meant as a starting point for further research if interested.