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bcstonecipher
Jan 2, 2024 4:00 PM

2024 Q1 Short: QQQ Short

Invesco QQQ Trust, Series 1NASDAQ

Description

Ah, the QQQ. Why's it up here? No one knows.
Looking at earnings : price ratio and adjusting for inflation, we are far overvalued. Sure, we can keep going, but odds say we need a pullback. Break 400, it could be decent. If we hold 400 and rebound to 408 surpassing that back into 410, be ready to close shorts dependent on your risk-tolerance.

MACD turning negative, RSI overbought and turning down hard.

Comment

:) so far, so good

Order cancelled

double take
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