TQQQ - Soon to Cross a Line - Expecting Downward
TQQQ was an amazing run to 9/3 the past 8 years, but...all good things come to an end.
I'm expecting a 3rd test and break below the support line and a drop towards a 33% correction from the 9/3 high (175.92, and crazy drop that day), putting us somewhere around $118 before we start the rebound.
33% / 8 year average correction in market overdue (Upward from 2008-2020, unless COVID/March counts).
I believe we're on a Leg C EWAVE correction. Waiting patiently for signs we've reached a bottom to jump back in.
MACD crossover on 10/12 and RSI Spike indicate we hit the high and are headed down.
*NOT FINACIAL ADVICE - NOT A FINANCIAL ADVISOR*
I'm expecting a 3rd test and break below the support line and a drop towards a 33% correction from the 9/3 high (175.92, and crazy drop that day), putting us somewhere around $118 before we start the rebound.
33% / 8 year average correction in market overdue (Upward from 2008-2020, unless COVID/March counts).
I believe we're on a Leg C EWAVE correction. Waiting patiently for signs we've reached a bottom to jump back in.
MACD crossover on 10/12 and RSI Spike indicate we hit the high and are headed down.
*NOT FINACIAL ADVICE - NOT A FINANCIAL ADVISOR*
Note
Every time we move big like today, I have to update channel lines. It's a wild ride right now. I expect to find a bottom around the 200 day SMA Note
Still on target, but...the 119 support is stubborn. Note
Ever closer to target. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.