Expecting a correction down to the next yellow zone. If that breaks, NASDAQ may get real ugly as in a market crash. Just opened a short position on QQQ by purchasing SQQQ. Any long positions in stocks, I would remain cautious and have stops in place unless they are held as an investment. Ultimately, I am more bearish than bullish in the current situation and I will not be taking any long positions in stocks until the market turns around. Instead, I will be shorting.
Comment:
Currently NASDAQ sitting in correction territory. A break of the bottom zone and a crash may be incoming....
Trade active:
Selling looks like it will continue. Took profit today on SQQQ. Swinging a small position on SQQQ over the weekend.
Trade closed: stop reached:
Locked in profits from the small position swing over the weekend on SQQQ. Expecting market to be green Tuesday where I'll be looking to renter SQQQ to short the NASDAQ.