TQQQ is 3x leveraged, and tracks 100 of the largest non-financial companies. It has quickly become on of my personal favorite ETFs with its performance, and the January effect is fueling the fire. It is important to note that TQQQ is reset daily, so it may not be a great long-term hold, despite its apparent performance.
RSI is showing overbought - but as long as new money is flowing into the market, it is okay to be overbought. If you already have a position, hold on a little longer. Historically, RSI bearish divergence has been effective in corrections in TQQQ.
RSI is showing overbought - but as long as new money is flowing into the market, it is okay to be overbought. If you already have a position, hold on a little longer. Historically, RSI bearish divergence has been effective in corrections in TQQQ.
Note
Some related ETFs:SQQQ - inverse 3x leveraged version of TQQQ
SPXL - 3x leveraged S&P500
SOXL - 3x leveraged, tracks the semiconductor industry. This ETF has gained over 20x in the last 5 years
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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.