Due to the current posture of the charts, with SPY, QQQ, /ES & /NQ precariously testing the uptrend lines on those 60-minute rising wedge today couple with the fact that both SPY & DIA are currently poised to print red candles following yesterday’s potential topping candlesticks, I have decided to suspend the stop on the QQQ short trade today & reinstated it on Monday.
With the large-caps essentially poised to close flat today, it’s not as if we’re extending any losses on that trade although there is always the risk that the market gaps & closes higher on Monday. As such, the decision of whether or not to give this trade any more room is up to each individual that is short the Q’s. No need to suspend or change the TVIX stop as it is comfortably above (1.00 exactly, as I type) the 18.48 suggested stop (still on a closing basis.