Long QQQ
I believe the tech selloff on Friday was spurred by a rotation to bank stocks in preparation for the rate hike. I still have a long bias. I bought the September 140 QQQ long call in order to give myself time if it goes against me. I entered around 139 when I saw the 138 pivot rejection. I also bought the August 140 QQQ short put in case the move continues. My first target is at 146 with a measured ABCD move off of the pivot rejection, with 150 being my 2nd target.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.