QQQ – The Great Fall
The QQQ hit an all-time high at $187.53 in October, 2018. The index is compromised of large-cap technology stocks. The largest holdings in the index are Amazon, Apple, Facebook, and Google.
Thesis: The sector is overvalued here and has a high-risk of government regulation over data and privacy issues.
The QQQ remains a strong sell. Terminal Cycle Sequence target is $120.
Option Trade: 15 MAR 19 155 PUT – 1.03
Option Trade Goal: Double
QQQ has completed Cycle Wave 1 & 2 down.
Cycle Wave 1 & 2:
Cycle Wave 3 is to begin now.
Please review my previous QQQ analysis here:
– The Humble Watcher