Are you bullish on Short ETFs? $SQQQ $SPXU
Updated
What do you see when looking aty these charts? I see higher highs and higher lows.
The
SQQQ broke a short-term trendline to the upside and then, the SPXU followed.
Now the next test is the last week's high, which it seems that it will break today. If it does, the next resistance is at the June highs. Thats +34% for SQQQ and +25% for SPXU, it could be a really good swing trade.
You could also say that both ETFs are making a head & shoulders but until the neckline is broken is not a head & shoulders.
The
SQQQ broke a short-term trendline to the upside and then, the SPXU followed. Now the next test is the last week's high, which it seems that it will break today. If it does, the next resistance is at the June highs. Thats +34% for SQQQ and +25% for SPXU, it could be a really good swing trade.
You could also say that both ETFs are making a head & shoulders but until the neckline is broken is not a head & shoulders.
Comment
Bearish sign, 2nd day closing below $18This is bullish for the market.
Comment
Finally, first close above $18This would be the buy signal
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