QQQ in trouble

After forming an island reversal last week, complete with a massive bearish engulfing candle off of all time highs, the break below the trend line support and 20dsma seemed fitting. Today's action was bearish, as volumes were subdued relative to recent down days. This suggest that few participants are eager to defend prices in a significant way and bid the market higher, so it seems bears have taken control of this market. I'm a seller, especially specific names heavily weighted in the index. I closed TWTR short today after huge success, added to NFLX short, initiated ADBE and FDX short, stood still on my TSLA short, and opened a deep OTM FB long put after noticing unusually high volume at the April 115/120 strikes (several spreads, buying the 120's and selling 115's and massive volume relative to open interest). I also took a flyer on ORCL, buying April calls for a bounce, as this selloff seems overdone.

Bottom line... Watch out below!