Price met resistance at the top line if the triangle.
It is an ascending triangle but this does not mean necessarily that it will break to the upside.
This pattern remains neutral until broken.
No recommendation.
ProShares Trust - ProShares UltraPro Short QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. It invests in public equity...
I don't have the pro version to show side by side, but the 2018 correction (on a 2HR timeline) scales remarkably similar to the current correction (on a daily timeline).
Both 2018 and current show a triple bottom formed before making the HUGE upswing to close out the correction.
Even the dates of these price actions proportionally correspond between the two...
SQQQ price closing on 50.24 USD where on the breakout of resistance level 48.68 USD yesterday. Notice that having a huge buying volume to support the breakout (cup and handle pattern), this indicate it is a strong bullish signal where investor can consider to take "Long" position on SQQQ with current price (50.24 USD). To be conservative, can take 46.19 USD as...
Look daily stoch on bottom ready turn up
look vol getting less also QQQ tired and earnings stink just give it time guys i went in small laod up some point. Tech hates higher rates
Of course this is all about interest rates, and money printing inflation activity. But it looks like the market is preparing to price in higher interest rates announced mar 22 or so. If it breaks that channel I drew it has a possibility to run up for 20-30 days
Can it be any clearer?
SQQQ is going UP
Prediction- by Summer (May to June)
Conservative: $55-60
Moderate: $60-70
Aggressive: $75 +
Not financial advise- trade at your own risk
Hey, guys ✌️
Let's take a peek at SQQQ. Well first thing we notice here that although we are on the lower side of that sideways movement we also have drifter far away form Moving Averages which means there is a a good chance for a turnover to happen. Will be monitoring this one for some time
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My first publication:
Monthly shows bear trend has a while to go
Volatility is growing
SQQQ is oversold
Triple bottom appears to have formed and the bottoms are spaced apart over nearly a year timeframe, which may set up a huge uptrend
SQQQ - Rst 40.17 Supp 33.2
Vice versa of TQQQ, current chart looks supported here. So if Nasdaq retrace, this will rise.
How to view the guidance via chart ( Refer back to pin message guidance if to trade )
Red Line = Support
Blue Line = Resistance
Light Blue = bullish/bearish pattern
Arrow = Double/Trip top/bottom
Red Chip = $$
Green Chip = XX
The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the fund's investment objective. The index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization. The fund is non-diversified.
Perhaps SQQQ (the inverse or bear of QQQ) will continue increasing through Q1 2023. PHO (fresh water) & WEAT (wheat) are at the base measuring in % gains to compare to the gains of SQQQ .
im into the idea of a bull pullback from the lows in the nasdaq, but its clear that the hourly trend is reversing back to bear to match the overall downtrend. this should continue, but i wouldnt be surprised to find the broader market bouncing again, but until that happens im back in with my short nasdaq position; long sqqq. im thinking top of envelope, and then...
