Following the post-FOMC ‘noise-induced’ stop-pop, QQQ (Nasdaq 100 tracking ETF) will be added back as another official short trade here with the same price targets as the previous trade & a new suggested (tight) stop of a daily close above 181.70.
QQQ 60-min March 27th
The price targets are T1 at 167.10 and T2 at 161.20 with the likelihood of additional targets to be added if/when the T1 level is hit as that will have taken QQQ below the March 8th reaction low, most likely opening the door to a much larger sell-off. The suggested stop for this trade is any daily close above the 181.70 level while the suggested beta-adjusted position size is 1.0.
As recently mentioned, the previous trade was stopped out for a 2.9% loss.