Today we should have final confirmation of holding EMA200 (unless Iran invade Israel and market fcks up by the close).
Plan does not change, we should see QQQ touch EM50 and EM21 (they are very close to each other) in this bounce (Hopefully this week, if not by next week). That would be around 460 range.
1: I plan to start taking profit on all the calls I bought in last 2 days in that range, but will not sell the shares I bought
2: Definitely recommend to start buying put spread from 460-430 as protection when QQQ getting close to 460. Note that buying put here does not mean QQQ rebound will for sure stop there. No one really knows to be honest. But historical statistics and TA both tell us there is a good chance for QQQ to pull back once it touches EM50
3: If for some reason, QQQ pushes through EM50 and firmly stands above (very unlikely scenario), then this correction is over. I will get rid of those puts and buy call spread from 460-500
#2 above is the most likely scenario.
Good luck and hope you all make good money on this bounce
