N0tSwift

TQQQ - Which way now? 207 or 107? - This week could show

Long
NASDAQ:TQQQ   PROSHARES TRUST ULTRAPRO QQQ USD
We're at the top of channel for our 9/3 downward channel , and C wave length at 1.618 could take us to the $107 range.
But the elections broke us out of channel and with 4 green days in a row could be pointing up at $207

If we are up at 10:30am Monday I'm buying more.
If we're down, I'll be waiting on a nice drop to buy more, and considering selling what I have.

I'm a big long term bull on TQQQ having done well with it for 5 years, but short term things are pretty interesting.

*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Comment: I suspect some election euphoria will drive us up instead of down.
MACD started pointing up and RSI doesn't show danger yet, so there's room to the upside. The 50/200 SMA cross on the 1 hour chart looks bullish short term. A 4 hour chart shows a possible Wave 3 starting, but also indicated MACD heading back down and RSI overbought.
Comment: $107 scenario is looking more likely.
Possible 4% down move tomorrow on QQQ
Comment: Revising Price target before next big move.
We seem to be consolidating. 3 weeks in any direction.
I'm cautiously optimistic we'll bounce up off the Red support line, but will be watching closely before going in too big.

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