QQQQ 6 months:
We are in consolidation at this point and the trend is neutral
I would not own any index options save spreads at this point.
I'd watch tech stocks as the SOX (& SMH) is fragile at these levels.
If 42.70 (really 42.63 but to be safe...) is taken out on volume, we go back to bull mode.
I'm weary of a break of 41.43 range though. (really 41.48 but I give you 5 cents to be sure)
We could see that on rate hike concerns.
If we break that range, it could go back to 40.9 area, but I still don't know how much of a bear I'll be.
My best guess as to what does happen (which is just a shot in the dark) is the boys try to grind us a little longer, without any significant moves in either direction.
Keep this in mind over the weekend....
And let me