The entry price on yesterday’s untriggered QQQ short trade setup will be revised to current levels, 188.65, with a revised stop of 194.35. The sole price target remains 169.68 for now & the suggested beta-adjusted position size remains 1.0.
QQQ daily Aug 13th
I just returned to my desk from an appointment earlier today so I’m going to post a video and/or additional charts & commentary on the stock market as well as my thoughts on today’s far-from-unexpected timing of positive news on the trade war in what I believe to be a direct & intentional attempt at foiling a larger correction which was & still is already price into the charts. As always, pass on any trade that does not mesh with your own outlook for the market, risk tolerance or comfort level.