This rally is the indices has been one to remember. So much money has been made. Time for profit taking to start setting in potentially. SQQQ had a wild rally April to mid June. Since then it's melted back to where it started ( as it's designed to do.) I Noticed this zone of accumulation. Will look to ride back to 60's if reversal happens.
SQQQ reached support. This is in line with the resistance that is seen on the e-mini Nasdaq100 $NC1!. Maybe time to consider some of this as part of a long hedge play or a pure short play.
Reaction rallies in the U.S. Macro Environments have been outlandish, to say the least. There is no reason for Price Action to be acting the way it is and I believe markets will correct soon. This isn't sustainable. So much support right now, the last time we were in this area we saw a Black Swan even tin the markets.
Overall market rally seems way overdone and overhyped, although congress continue to press for stimulus bills on energy sector; still upside risk to reward does not warrant a long position at this point in time.
Rather, market's current rally are living on pro-longed extension from recovering CPI data to positive earning outlook to stock split. These catalyst...
Pumps don't last forever, with bad economics and rumors of war there is no way we continue upwards, this is a bull trap. NASDAQ:SQQQ
Watch carefully the next couple of days we might catch a double bottom before moving upwards
I'm was unsure about the earning but base on the $SNAP Earning and $WMT I'm expecting negative results for Alphabet and $META and this big tech giant are going to move the market.
I know the technicals are somewhat against me here and maybe this is a more fundamental sided trade for me, but I may add onto my position on Monday. We'll see what market open looks like, but the news on the global supply chain front and geopolitically is bearish. We closed on a downturn on Friday and I believe this will be a great opportunity for SQQQ to make a...
As I expected the price action fell into my accumulation zone and I have opened a position. I may continue to add onto this.
I am not a financial advisor and this is not financial advice. This is for paper trading or simulated trading practices only. Trading is risky and you should consult with a financial advisor before taking any financial risk. Any risk taken...
In my chart for QQQ proposed, it is currently in a head and shoulders pattern. This means SQQQ is in a bullish head and shoulders pattern. Here is my prediction for price action and Long accumulation region.
I am not a financial advisor and this is not financial advice. This is for paper trading or simulated trading practices only. Trading is risky and you should...
SQQQ is having bull readings from qqe and sss signals strategies. holding 52.62 and breaking 53.78 would open the road to high 54s if signal remains green in the bear nasdaq etf.
NASDAQ
