The 283.76 rally target shown in the chart has gotten billboard exposure on the home page for so long that it can hardly be expected to work. Even so, I’ll recommend taking a small short position when QQQ gets there, buying the first close-to-expiring puts you can find trading for under $1.00. Do NOT go out farther in time so that the trade has more time to work; this is a losing strategy. If the trade works the way it’s supposed to, you should see a nominal profit within 30-60 minutes of your entry. Since we are going against the most powerful rally in history and odds will therefore be against us, you should risk no more on this speculation than you can lose painlessly. The trade should be executed with QQQ no farther from the target than 0.03-0.06 points.  Stop yourself out if QQQ trades above 285.00 intraday. _______ UPDATE (Aug 24, 9:22 a.m. ET): Cancel the trade, since QQQ has gapped through the target ahead of this morning’s opening. This is remarkable, considering how clear and compelling the resistance was. It attests to the demented strength of the rally. _______ UPDATE (Aug 25, 7:55 pm.): There is little point in proferring rally targets as potential tops, since even the most obstinate of them withstands the onslaught for no more than a day or two. QQQ has spent the last two days developing thrust for a push above a 286.28 target that came into play when 283.76 gave way. Now, assuming it falls as well, we’ll be looking at a run-up to 292.41. It will become an odds-on bet if and when buyers push the Cubes above p=286.84.  Here’s the chart. _______ UPDATE (Aug 26, 10:03 p.m.):  The 292.41 target flagged above caught the top of today’s rampage within a hair, but it’s not easily tradeable because night owls are using it at this very moment as a sex toy. The high in after-hours diddling is 292.71, but I don’t plan to stay up all night to see how this ends, much less get short on autopilot.  Eurotraders and others in better time zones can do so with a tight ‘reverse ABC’, but please let me know in the chat room if you jump on this one. ______ UPDATE (Aug 27, 10;28 p.m.): Sex toy, indeed. It’s hard to know whether the gang-bang is over, but we’ll take the day off in any event.