I didn’t think we would get another move up, but since we did, I decided to go short. My stop loss is in the 198-200 range with a target in the mid 170s. Below is the weekly chart of QQQ.
I’m a little concerned that we will reach 198-200 before a downwards correction, but we will have to see what happens next week. By the end of next week we should see which direction the stock market wants to go. I still suspect it’s down otherwise I wouldn’t take this trade.