SQQQ in need to a serious correction, after moving close to 40% since around the beginning of September. Completed wave 5, showing signs of beginning A wave down towards the end of today. If MACD can get create some positive divergence, maybe can see some good entry points around 23 (these are just my ideas, please trade at your own risk). Copyright Rohan Karunaratne 2020
Established in February 2010 by ProShares, the UltraPro Short QQQ (SQQQ) is an inverse-leveraged exchange-traded fund (ETF) that tracks the Nasdaq-100 Index. This index is composed of the largest companies, both domestic and international, listed on the Nasdaq stock market, but excludes financial institutions
MAX 2020 : 162,13
SUPPORTS: 153,61 ...
my predictions are the worst, dont follow them.
We've been under the green lower channel and Montly shows that when the market drops, the upper channel is a target.
So you have to understand that a worst scenario for Nasdaq is SQQQ at 70-80$, and still, that would be a sustainable point, we easily went there many times in the last ten years and sentiment was very...
Im very bad at predictions
NORMAL RESISTENCE/SUPPORT IS GREEN LINE
OVER THAT IS BULLISH TERRITORY
UNDER IS BEARISH TERRITORY
pink line is bear porn
a bubble poping could bring it upthere
to go up
VOLUME HAS TO BE OVER 8K
RSI HAS TO BE BETWEEN 25 AND 65, 45+ IS VERY BULLISH
WHEN TOUCHING 400MA over green line, this is gambling, be carefull
The SQQQ ETF volume is on the rise and overall Call/Put Ratio is dropping down to lowest levels in since 2014. Both are bearish indicators. The CNN Fear & Greed Index is rising as fast as ZM. ;)
Be careful out there!